SB9-SSA1,138,10 8(7) Removal of debtor's name. The filing office may not remove a debtor's name
9from the index until one year after the effectiveness of a financing statement naming
10the debtor lapses under s. 409.515 with respect to all secured parties of record.
SB9-SSA1,138,13 11(8) Timeliness of filing-office performance. The filing office shall perform
12the acts required by subs. (1) to (5) at the time and in the manner prescribed by
13filing-office rule, but not later than:
SB9-SSA1,138,1514 (a) Five business days after the filing office receives the record in question for
15acts performed before July 1, 2003; and
SB9-SSA1,138,1716 (b) Two business days after the filing office receives the record in question for
17acts performed on or after July 1, 2003.
SB9-SSA1,138,23 18409.520 Acceptance and refusal to accept record. (1) Mandatory refusal
19to accept record.
A filing office shall refuse to accept a record for filing for a reason
20set forth in s. 409.516 (2) and may refuse to accept a record for filing only for a reason
21set forth in s. 409.516 (2). The presence or absence of a social security number on a
22form of record providing for the insertion of a social security number as such shall
23not affect the decision of the filing office to accept or refuse the record for filing.
SB9-SSA1,139,4 24(2) Communication concerning refusal. If a filing office refuses to accept a
25record for filing, the filing office shall communicate to the person that presented the

1record the fact of and reason for the refusal and the date and time the record would
2have been filed had the filing office accepted the record. The communication must
3be made at the time and in the manner prescribed by filing-office rule but, in no event
4more than:
SB9-SSA1,139,65 (a) Five business days after the filing office receives the record for records
6received before July 1, 2003; and
SB9-SSA1,139,87 (b) Two business days after the filing office receives the record for records
8received on or after July 1, 2003.
SB9-SSA1,139,13 9(3) When filed financing statement effective. A filed financing statement
10satisfying s. 409.502 (1) and (2) is effective, even if the filing office is required to
11refuse to accept it for filing under sub. (1). However, s. 409.338 applies to a filed
12financing statement providing information described in s. 409.516 (2) (e) which is
13incorrect at the time the financing statement is filed.
SB9-SSA1,139,16 14(4) Separate application to multiple debtors. If a record communicated to a
15filing office provides information that relates to more than one debtor, this
16subchapter applies as to each debtor separately.
SB9-SSA1,139,20 17409.521 Uniform form of written financing statement and amendment.
18(1)
Initial financing statement form. A filing office that accepts written records
19may not refuse to accept a written initial financing statement in the following form
20and format except for a reason set forth in s. 409.516 (2):


SB9-SSA1,142,3
1(2) Amendment form. A filing office that accepts written records may not refuse
2to accept a written record in the following form and format except for a reason set
3forth in s. 409.516 (2):


SB9-SSA1,145,6
1409.522 Maintenance and destruction of records. (1) Postlapse
2maintenance and retrieval of information.
The filing office shall maintain a record
3of the information provided in a filed financing statement for at least one year after
4the effectiveness of the financing statement has lapsed under s. 409.515 with respect
5to all secured parties of record. The record must be retrievable by using the name
6of the debtor and:
SB9-SSA1,145,97 (a) If the record was filed or recorded in the filing office described in s. 409.501
8(1) (a), by using the file number assigned to the initial financing statement to which
9the record relates and the date on which the record was filed or recorded; or
SB9-SSA1,145,1210 (b) If the record was filed in the filing office described in s. 409.501 (1) (b), by
11using the file number assigned to the initial financing statement to which the record
12relates.
SB9-SSA1,145,17 13(2) Destruction of written records. Except to the extent that a statute
14governing disposition of public records provides otherwise, the filing office may
15destroy immediately any written record evidencing a financing statement. However,
16if the filing office destroys a written record, it shall maintain another record of the
17financing statement which complies with sub. (1).
SB9-SSA1,145,23 18409.523 Information from filing office; sale or license of records. (1)
19Acknowledgment of filing written record. If a person that files a written record
20requests an acknowledgment of the filing, the filing office shall send to the person
21an image of the record showing the number assigned to the record pursuant to s.
22409.519 (1) (a) and the date and time of the filing of the record. However, if the person
23furnishes a copy of the record to the filing office, the filing office may instead:
SB9-SSA1,145,2524 (a) Note upon the copy the number assigned to the record pursuant to s. 409.519
25(1) (a) and the date and time of the filing of the record; and
SB9-SSA1,146,1
1(b) Send the copy to the person.
SB9-SSA1,146,4 2(2) Acknowledgment of filing other record. If a person files a record other
3than a written record, the filing office shall communicate to the person an
4acknowledgment that provides:
SB9-SSA1,146,55 (a) The information in the record;
SB9-SSA1,146,66 (b) The number assigned to the record pursuant to s. 409.519 (1) (a); and
SB9-SSA1,146,77 (c) The date and time of the filing of the record.
SB9-SSA1,146,10 8(3) Communication of requested information. The filing office shall
9communicate or otherwise make available in a record the following information to
10any person that requests it:
SB9-SSA1,146,1311 (a) Whether there is on file on a date and time specified by the filing office, but
12not a date earlier than 3 business days before the filing office receives the request,
13any financing statement that:
SB9-SSA1,146,1514 1. Designates a particular debtor or, if the request so states, designates a
15particular debtor at the address specified in the request;
SB9-SSA1,146,1716 2. Has not lapsed under s. 409.515 with respect to all secured parties of record;
17or
SB9-SSA1,146,1918 3. If the request so states, has lapsed under s. 409.515 and a record of which
19is maintained by the filing office under s. 409.522 (1);
SB9-SSA1,146,2020 (b) The date and time of filing of each financing statement; and
SB9-SSA1,146,2121 (c) The information provided in each financing statement.
SB9-SSA1,147,2 22(4) Medium for communicating information. In complying with its duty under
23sub. (3), the filing office may communicate information in any medium. However, if
24requested, the filing office shall communicate information by issuing a record that

1can be admitted into evidence in the courts of this state without extrinsic evidence
2of its authenticity.
SB9-SSA1,147,5 3(5) Timeliness of filing-office performance. The filing office shall perform
4the acts required by subs. (1) to (4) at the time and in the manner prescribed by
5filing-office rule, but not later than:
SB9-SSA1,147,76 (a) Five business days after the filing office receives the request for requests
7received before July 1, 2003; and
SB9-SSA1,147,98 (b) Two business days after the filing office receives the request for requests
9received on or after July 1, 2003.
SB9-SSA1,147,13 10(6) Public availability of records. At least weekly, the department of financial
11institutions shall offer to sell or license to the public on a nonexclusive basis, in bulk,
12copies of all records filed in it under this subchapter, in every medium from time to
13time available to the department of financial institutions.
SB9-SSA1,147,17 14(7) Liability of filing officer. No filing officer nor any of the filing officer's
15employees or agents shall be subject to personal liability by reason of any error or
16omission in the performance of any duty under this chapter except in case of
17misconduct as defined in s. 946.12.
SB9-SSA1,147,19 18409.524 Delay by filing office. Delay by the filing office beyond a time limit
19prescribed by this subchapter is excused if:
SB9-SSA1,147,22 20(1) The delay is caused by interruption of communication or computer
21facilities, war, emergency conditions, failure of equipment, or other circumstances
22beyond the control of the filing office; and
SB9-SSA1,147,23 23(2) The filing office exercises reasonable diligence under the circumstances.
SB9-SSA1,148,3 24409.525 Fees. (1) Initial financing statement or other record. Except as
25otherwise provided in this section, the fee for filing and indexing a record under this

1subchapter and the portion of the fee that an office duly authorized by the
2department under s. 409.501 (1) (b) may retain shall be prescribed by filing-office
3rule.
SB9-SSA1,148,5 4(1m) No fee for filing termination statement. There is no fee for the filing
5of a termination statement.
SB9-SSA1,148,7 6(2) Basis for rule. The rule under sub. (1) must set the fees for filing and
7indexing a record under this subchapter on the following basis:
SB9-SSA1,148,118 (a) If the record presented for filing is communicated to the filing office in
9writing and consists of more than 2 pages, the fee for filing and indexing the record
10must be at least twice the amount of the fee for a record communicated in writing that
11consists of 1 or 2 pages; and
SB9-SSA1,148,1512 (b) If the record is communicated by another medium authorized by
13filing-office rule, the fee for filing and indexing the record must be no more than 50%
14of the amount of the fee for a record communicated in writing that consists of 1 or 2
15pages.
SB9-SSA1,148,17 16(3) Number of names. The number of names required to be indexed does not
17affect the amount of the fee under this section.
SB9-SSA1,149,3 18(4) Response to information request. Except as otherwise provided in this
19section, the fee for responding to a request for information from the filing office,
20including for communicating whether there is on file any financing statement
21naming a particular debtor, and the portion of the fee that an office duly authorized
22by the department under s. 409.501 (1) (b) may retain shall be prescribed by
23filing-office rule. The fee for responding to a request communicated in writing must
24be not less than twice the amount of the fee for responding to a request communicated
25by another medium authorized by filing-office rule. This subsection does not require

1that a fee be charged for remote access searching of the filing-office data base. The
2rule promulgated pursuant to this subsection need not specify a fee for remote access
3searching of the filing-office data base.
SB9-SSA1,149,8 4(5) Record of mortgage. This section does not require a fee with respect to a
5record of a mortgage which is effective as a financing statement filed as a fixture
6filing or as a financing statement covering as-extracted collateral or timber to be cut
7under s. 409.502 (3). However, the recording and satisfaction fees that otherwise
8would be applicable to the record of the mortgage apply.
SB9-SSA1,149,11 9409.526 Filing-office rules. (1) Promulgation of filing-office rules. The
10secretary of financial institutions shall promulgate filing-office rules to implement
11this chapter. The filing-office rules must be:
SB9-SSA1,149,1212 (a) Consistent with this chapter; and
SB9-SSA1,149,1313 (b) Promulgated in accordance with ch. 227.
SB9-SSA1,149,20 14(2) Harmonization of rules. To keep the filing-office rules and practices of the
15filing office in harmony with the rules and practices of filing offices in other
16jurisdictions that enact substantially this subchapter, and to keep the technology
17used by the filing office compatible with the technology used by filing offices in other
18jurisdictions that enact substantially this subchapter, the secretary of financial
19institutions, so far as is consistent with the purposes, policies, and provisions of this
20chapter, in promulgating filing-office rules, shall:
SB9-SSA1,149,2221 (a) Consult with filing offices in other jurisdictions that enact substantially this
22subchapter;
SB9-SSA1,149,2523 (b) Consult the most recent version of the Model Rules promulgated by the
24International Association of Corporate Administrators or any successor
25organization; and
SB9-SSA1,150,2
1(c) Take into consideration the rules and practices of, and the technology used
2by, filing offices in other jurisdictions that enact substantially this subchapter.
SB9-SSA1,150,5 3409.527 Duty to report. The department of financial institutions shall
4include in its report under s. 15.04 (1) (d) a report on the operation of the filing office.
5The report must contain a statement of the extent to which:
SB9-SSA1,150,9 6(1) Harmonization of rules: filing offices in other jurisdictions. The
7filing-office rules are not in harmony with the rules of filing offices in other
8jurisdictions that enact substantially this subchapter and the reasons for these
9variations; and
SB9-SSA1,150,13 10(2) Harmonization of rules: model rules. The filing-office rules are not in
11harmony with the most recent version of the Model Rules promulgated by the
12International Association of Corporate Administrators, or any successor
13organization, and the reasons for these variations.
SB9-SSA1,150,17 14409.528 Statewide lien system. (1) Establishment and maintenance. The
15department shall establish and maintain and the office of each register of deeds in
16this state shall establish services necessary to support a statewide lien system under
17this subchapter.
SB9-SSA1,150,20 18(2) Use. Except as otherwise provided in this chapter, each filing officer shall
19enter all information filed under this subchapter into the statewide lien system
20under sub. (1).
SB9-SSA1,150,2221 subchapter VI
22DEFAULT
SB9-SSA1,151,2 23409.601 Rights after default; judicial enforcement; consignor or buyer
24of accounts, chattel paper, payment intangibles, or promissory notes. (1)

25Rights of secured party after default. After default, a secured party has the rights

1provided in this subchapter and, except as otherwise provided in s. 409.602, those
2provided by agreement of the parties. A secured party:
SB9-SSA1,151,43 (a) May reduce a claim to judgment, foreclose, or otherwise enforce the claim,
4security interest, or agricultural lien by any available judicial procedure; and
SB9-SSA1,151,65 (b) If the collateral is documents, may proceed either as to the documents or as
6to the goods they cover.
SB9-SSA1,151,9 7(2) Rights and duties of secured party in possession or control. A secured
8party in possession of collateral or control of collateral under s. 409.104, 409.105,
9409.106, or 409.107 has the rights and duties provided in s. 409.207.
SB9-SSA1,151,11 10(3) Rights cumulative; simultaneous exercise. The rights under subs. (1) and
11(2) are cumulative and may be exercised simultaneously.
SB9-SSA1,151,14 12(4) Rights of debtor and obligor. Except as otherwise provided in sub. (7) and
13s. 409.605, after default, a debtor and an obligor have the rights provided in this
14subchapter and by agreement of the parties.
SB9-SSA1,151,17 15(5) Lien of levy after judgment. If a secured party has reduced its claim to
16judgment, the lien of any levy that may be made upon the collateral by virtue of an
17execution based upon the judgment relates back to the earliest of:
SB9-SSA1,151,1918 (a) The date of perfection of the security interest or agricultural lien in the
19collateral;
SB9-SSA1,151,2020 (b) The date of filing a financing statement covering the collateral; or
SB9-SSA1,151,2221 (c) Any date specified in a statute under which the agricultural lien was
22created.
SB9-SSA1,152,2 23(6) Execution sale. A sale pursuant to an execution is a foreclosure of the
24security interest or agricultural lien by judicial procedure within the meaning of this

1section. A secured party may purchase at the sale and thereafter hold the collateral
2free of any other requirements of this chapter.
SB9-SSA1,152,6 3(7) Consignor or buyer of certain rights to payment. Except as otherwise
4provided in s. 409.607 (3), this subchapter imposes no duties upon a secured party
5that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or
6promissory notes.
SB9-SSA1,152,10 7409.602 Waiver and variance of rights and duties. Except as otherwise
8provided in s. 409.624, to the extent that they give rights to a debtor or obligor and
9impose duties on a secured party, the debtor or obligor may not waive or vary the
10rules stated in the following listed sections:
SB9-SSA1,152,12 11(1) Section 409.207 (2) (d) 3., which deals with use and operation of the
12collateral by the secured party;
SB9-SSA1,152,14 13(2) Section 409.210, which deals with requests for an accounting and requests
14concerning a list of collateral and statement of account;
SB9-SSA1,152,16 15(3) Section 409.607 (3), which deals with collection and enforcement of
16collateral;
SB9-SSA1,152,19 17(4) Sections 409.608 (1) and 409.615 (3) to the extent that they deal with
18application or payment of noncash proceeds of collection, enforcement, or
19disposition;
SB9-SSA1,152,21 20(5) Sections 409.608 (1) and 409.615 (4) to the extent that they require
21accounting for or payment of surplus proceeds of collateral;
SB9-SSA1,152,24 22(6) Section 409.609 to the extent that it imposes upon a secured party that
23takes possession of collateral without judicial process the duty to do so without
24breach of the peace;
SB9-SSA1,153,2
1(7) Sections 409.610 (2), 409.611, 409.613, and 409.614, which deal with
2disposition of collateral;
SB9-SSA1,153,5 3(8) Section 409.615 (6), which deals with calculation of a deficiency or surplus
4when a disposition is made to the secured party, a person related to the secured party,
5or a secondary obligor;
SB9-SSA1,153,7 6(9) Section 409.616, which deals with explanation of the calculation of a
7surplus or deficiency;
SB9-SSA1,153,9 8(10) Sections 409.620, 409.621, and 409.622, which deal with acceptance of
9collateral in satisfaction of obligation;
SB9-SSA1,153,10 10(11) Section 409.623, which deals with redemption of collateral;
SB9-SSA1,153,11 11(12) Section 409.624, which deals with permissible waivers; and
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