Wisconsin Statutes

Wis. Stat. § 409.309 (2026)

Security interest perfected upon attachment

✓ current as of July 2026

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409.309409.309 Security interest perfected upon attachment. The following security interests are perfected when they attach:

409.309(1)(1) A purchase-money security interest in consumer goods, except as otherwise provided in s. 409.311 (2) with respect to consumer goods that are subject to a statute or treaty described in s. 409.311 (1);

409.309(2)(2) An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor’s outstanding accounts or payment intangibles;

409.309(3)(3) A sale of a payment intangible;

409.309(4)(4) A sale of a promissory note;

409.309(5)(5) A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services;

409.309(6)(6) A security interest arising under s. 402.401, 402.505, 402.711 (3), or 411.508 (5), until the debtor obtains possession of the collateral;

409.309(7)(7) A security interest of a collecting bank arising under s. 404.210;

409.309(8)(8) A security interest of an issuer or nominated person arising under s. 405.118;

409.309(9)(9) A security interest arising in the delivery of a financial asset under s. 409.206 (3);

409.309(10)(10) A security interest in investment property created by a broker or securities intermediary;

409.309(11)(11) A security interest in a commodity contract or a commodity account created by a commodity intermediary;

409.309(12)(12) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and

409.309(13)(13) A security interest created by an assignment of a beneficial interest in a decedent’s estate.

409.309 HistoryHistory: 2001 a. 10.

Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 1990–2021 · leading case: Attorney's Title Guar. Fund, Inc. v. Town Bank, 2014 WI 63 (Wis. 2014).

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Attorney's Title Guar. Fund, Inc. v. Town Bank, 2014 WI 63 (Wis. 2014). · cites it 4× “9-109(d)(12) ("[O]nce a claim arising in tort has been settled and reduced to a contractual obligation to pay, the right to payment becomes a payment intangible and ceases to be a claim arising in tort.”

Bank of Waunakee, a Wisconsin Banking Corp. v. Rochester Cheese Sales, Inc., a Minnesota Corp., 906 F.2d 1185 (7th Cir. 1990). “Furthermore, a holder in due course of a negotiable instrument, a holder to whom a negotiable document of title has been duly negotiated, and a bona fide purchaser of a security take priority over an earlier security interest even though perfected.”

Zachery R Leaver (Bankr. W.D. Wis. 2021). · cites it 2× “Wis. Stat. §§ 409.309 and 409.308. Hillside was secured on the petition date because of its statutory possessory lien.”

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