Wisconsin Statutes
Wis. Stat. § 409.307 (2026)
Location of debtor
✓ current as of July 2026
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409.307(1)(1) Place of business. In this section, “place of business” means a place where a debtor conducts its affairs.
409.307(2)(2) Debtor’s location: general rules. Except as otherwise provided in this section, the following rules determine a debtor’s location:
409.307(2)(b)(b) A debtor that is an organization and has only one place of business is located at its place of business.
409.307(2)(c)(c) A debtor that is an organization and has more than one place of business is located at its chief executive office.
409.307(3)(3) Limitation of applicability of sub. (2). Subsection (2) applies only if a debtor’s residence, place of business, or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording, or registration system as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor with respect to the collateral. If sub. (2) does not apply, the debtor is located in the District of Columbia.
409.307(4)(4) Continuation of location: cessation of existence. A person that ceases to exist, have a residence, or have a place of business continues to be located in the jurisdiction specified by subs. (2) and (3).
409.307(5)(5) Location of registered organization organized under state law. A registered organization that is organized under the law of a state is located in that state.
409.307(6)(6) Location of registered organization organized under federal law; bank branches and agencies. Except as otherwise provided in sub. (9), a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located:
409.307(6)(a)(a) In the state that the law of the United States designates, if the law designates a state of location;
409.307(6)(b)(b) In the state that the registered organization, branch, or agency designates, if the law of the United States authorizes the registered organization, branch, or agency to designate its state of location, including by designating its main office, home office, or other comparable office; or
409.307(7)(7) Continuation of location: change in status of registered organization. A registered organization continues to be located in the jurisdiction specified by sub. (5) or (6) notwithstanding:
409.307(7)(a)(a) The suspension, revocation, forfeiture, or lapse of the registered organization’s status as such in its jurisdiction of organization; or
409.307(7)(b)(b) The dissolution, winding up, or cancellation of the existence of the registered organization.
409.307(9)(9) Location of foreign bank branch or agency if licensed in only one state. A branch or agency of a bank that is not organized under the law of the United States or a state is located in the state in which the branch or agency is licensed, if all branches and agencies of the bank are licensed in only one state.
409.307(10)(10) Location of foreign air carrier. A foreign air carrier under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier.
409.307(11)(11) Section applies only to this subchapter. This section applies only for purposes of this subchapter.
Notes of Decisions
Cited in 7
cases, 1978–1991 · leading case: Farm Credit Bank of St. Paul v. F&A DAIRY, 477 N.W.2d 357 (Wis. Ct. App. 1991).
Farm Credit Bank of St. Paul v. F&A DAIRY, 477 N.W.2d 357 (Wis. Ct. App. 1991). “The dairy raises four issues on appeal: (1) The trial court erred by basing its decision on sec. 409.307, Stats., in contravention of 7 U.”
Bank of Waunakee, a Wisconsin Banking Corp. v. Rochester Cheese Sales, Inc., a Minnesota Corp., 906 F.2d 1185 (7th Cir. 1990). “While a secured party who properly and promptly files thereby protects its security interest to the maximum possible extent, such protection is not absolute.”
Antigo Co-Op Credit Union v. Miller, 271 N.W.2d 642 (Wis. 1978). “Sec. 409.307(1), Stats., applies to both perfected and unperfected security interests in circumstances where the buyer is in the ordinary course of business.”
Lader's Tiffany Feed & Supply Co. v. Kohl (In Re Kohl), 18 B.R. 670 (Bankr. W.D. Wis. 1982). “In a state court, prior to this bankruptcy, Laders entered into a settlement with Green Rock which was premised on the enforceability of the security agreement against purchasers of farm products under Wis.Stat. § 409.307(1). Lader now seeks to have the amount paid in that…”
Matter of Johnson, 47 B.R. 204 (Bankr. W.D. Wis. 1985). “Accordingly, it is hereby ORDERED that the debtors’ motion to use cash collateral from milk proceeds as described and conditioned in this opinion is hereby granted.”
First Am. Nat'l Bank of Wausau v. Fiesta Corp. (In Re Fiesta Corp.), 25 B.R. 236 (Bankr. W.D. Wis. 1982). “Security State contends that First American’s security interest was cut off under Wis.Stat. § 409.307 because Fiesta bought from Wausau in the ordinary course of business.”
Prod. Credit Ass'n v. Pillsbury Co., 392 N.W.2d 445 (Wis. Ct. App. 1986). “Section 409.307(1), Stats. That Gordon Poad sold the farm products as a grain dealer is immaterial.”
— Wis. Stat. § 409.307(1) — 5 cases
Antigo Co-Op Credit Union v. Miller, 271 N.W.2d 642 (Wis. 1978). “Sec. 409.307(1), Stats., applies to both perfected and unperfected security interests in circumstances where the buyer is in the ordinary course of business.”
Lader's Tiffany Feed & Supply Co. v. Kohl (In Re Kohl), 18 B.R. 670 (Bankr. W.D. Wis. 1982). “In a state court, prior to this bankruptcy, Laders entered into a settlement with Green Rock which was premised on the enforceability of the security agreement against purchasers of farm products under Wis.Stat. § 409.307(1). Lader now seeks to have the amount paid in that…”
Matter of Johnson, 47 B.R. 204 (Bankr. W.D. Wis. 1985). “Accordingly, it is hereby ORDERED that the debtors’ motion to use cash collateral from milk proceeds as described and conditioned in this opinion is hereby granted.”
First Am. Nat'l Bank of Wausau v. Fiesta Corp. (In Re Fiesta Corp.), 25 B.R. 236 (Bankr. W.D. Wis. 1982). “Security State contends that First American’s security interest was cut off under Wis.Stat. § 409.307 because Fiesta bought from Wausau in the ordinary course of business.”
Prod. Credit Ass'n v. Pillsbury Co., 392 N.W.2d 445 (Wis. Ct. App. 1986). “Section 409.307(1), Stats. That Gordon Poad sold the farm products as a grain dealer is immaterial.”
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