AB111,135,20 20(3) Rules applicable to sub. (2). For purposes of sub. (2):
AB111,135,2221 (a) A record does not provide information if the filing office is unable to read
22or decipher the information; and
AB111,135,2523 (b) A record that does not indicate that it is an amendment or identify an initial
24financing statement to which it relates, as required by s. 409.512, 409.514, or
25409.518, is an initial financing statement.
AB111,136,5
1(4) Refusal to accept record; record effective as filed record. A record that
2is communicated to the filing office with tender of the filing fee, but which the filing
3office refuses to accept for a reason other than one set forth in sub. (2), is effective as
4a filed record except as against a purchaser of the collateral which gives value in
5reasonable reliance upon the absence of the record from the files.
AB111,136,7 6409.517 Effect of indexing errors. The failure of the filing office to index a
7record correctly does not affect the effectiveness of the filed record.
AB111,136,11 8409.518 Claim concerning inaccurate or wrongfully filed record. (1)
9Correction statement. A person may file in the filing office a correction statement
10with respect to a record indexed there under the person's name if the person believes
11that the record is inaccurate or was wrongfully filed.
AB111,136,12 12(2) Sufficiency of correction statement. A correction statement must:
AB111,136,1313 (a) Identify the record to which it relates by:
AB111,136,1514 1. The file number assigned to the initial financing statement to which the
15record relates; and
AB111,136,1816 2. If the correction statement relates to a record filed or recorded in a filing
17office described in s. 409.501 (1) (a), the date on which the initial financing statement
18was filed or recorded and the information specified in s. 409.502 (2);
AB111,136,1919 (b) Indicate that it is a correction statement; and
AB111,136,2320 (c) Provide the basis for the person's belief that the record is inaccurate and
21indicate the manner in which the person believes the record should be amended to
22cure any inaccuracy or provide the basis for the person's belief that the record was
23wrongfully filed.
AB111,137,3
1(3) Record not affected by correction statement. The filing of a correction
2statement does not affect the effectiveness of an initial financing statement or other
3filed record.
AB111,137,6 4409.519 Numbering, maintaining, and indexing records;
5communicating information provided in records. (1)
Filing-office duties.
6For each record filed in a filing office, the filing office shall:
AB111,137,77 (a) Assign a unique number to the filed record;
AB111,137,98 (b) Create a record that bears the number assigned to the filed record and the
9date and time of filing;
AB111,137,1010 (c) Maintain the filed record for public inspection; and
AB111,137,1111 (d) Index the filed record in accordance with subs. (3), (4), and (5).
AB111,137,13 12(2) File number. A file number assigned after January 1, 2002, must include
13a digit that:
AB111,137,1514 (a) Is mathematically derived from or related to the other digits of the file
15number; and
AB111,137,1716 (b) Aids the filing office in determining whether a number communicated as
17the file number includes a single-digit or transpositional error.
AB111,137,19 18(3) Indexing: general. Except as otherwise provided in subs. (4) and (5), the
19filing office shall:
AB111,137,2320 (a) Index an initial financing statement according to the name of the debtor and
21index all filed records relating to the initial financing statement in a manner that
22associates with one another an initial financing statement and all filed records
23relating to the initial financing statement; and
AB111,138,3
1(b) Index a record that provides a name of a debtor which was not previously
2provided in the financing statement to which the record relates also according to the
3name that was not previously provided.
AB111,138,6 4(4) Indexing: real-property-related financing statement. If a financing
5statement is filed as a fixture filing or covers as-extracted collateral or timber to be
6cut, it must be filed for record and the filing office shall index it:
AB111,138,97 (a) Under the names of the debtor and of each owner of record shown on the
8financing statement as if they were the mortgagors under a mortgage of the real
9property described; and
AB111,138,1410 (b) To the extent that the law of this state provides for indexing of records of
11mortgages under the name of the mortgagee, under the name of the secured party
12as if the secured party were the mortgagee thereunder, or, if indexing is by
13description, as if the financing statement were a record of a mortgage of the real
14property described.
AB111,138,18 15(5) Indexing: real-property-related assignment. If a financing statement is
16filed as a fixture filing or covers as-extracted collateral or timber to be cut, the filing
17office shall index an assignment filed under s. 409.514 (1) or an amendment filed
18under s. 409.514 (2):
AB111,138,1919 (a) Under the name of the assignor as grantor; and
AB111,138,2220 (b) To the extent that the law of this state provides for indexing a record of the
21assignment of a mortgage under the name of the assignee, under the name of the
22assignee.
AB111,138,24 23(6) Retrieval and association capability. The filing office shall maintain a
24capability:
AB111,138,2525 (a) To retrieve a record by the name of the debtor and:
AB111,139,3
11. If the filing office is described in s. 409.501 (1) (a), by the file number assigned
2to the initial financing statement to which the record relates and the date on which
3the record was filed or recorded; or
AB111,139,54 2. If the filing office is described in s. 409.501 (1) (b), by the file number assigned
5to the initial financing statement to which the record relates; and
AB111,139,76 (b) To associate and retrieve with one another an initial financing statement
7and each filed record relating to the initial financing statement.
AB111,139,10 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.
AB111,139,13 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:
AB111,139,1514 (a) Five business days after the filing office receives the record in question for
15acts performed before July 1, 2003; and
AB111,139,1716 (b) Two business days after the filing office receives the record in question for
17acts performed on or after July 1, 2003.
AB111,139,21 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).
AB111,140,2 22(2) Communication concerning refusal. If a filing office refuses to accept a
23record for filing, the filing office shall communicate to the person that presented the
24record the fact of and reason for the refusal and the date and time the record would
25have been filed had the filing office accepted the record. The communication must

1be made at the time and in the manner prescribed by filing-office rule but, in no event
2more than:
AB111,140,43 (a) Five business days after the filing office receives the record for records
4received before July 1, 2003; and
AB111,140,65 (b) Two business days after the filing office receives the record for records
6received on or after July 1, 2003.
AB111,140,11 7(3) When filed financing statement effective. A filed financing statement
8satisfying s. 409.502 (1) and (2) is effective, even if the filing office is required to
9refuse to accept it for filing under sub. (1). However, s. 409.338 applies to a filed
10financing statement providing information described in s. 409.516 (2) (e) which is
11incorrect at the time the financing statement is filed.
AB111,140,14 12(4) Separate application to multiple debtors. If a record communicated to a
13filing office provides information that relates to more than one debtor, this
14subchapter applies as to each debtor separately.
AB111,140,18 15409.521 Uniform form of written financing statement and amendment.
16(1)
Initial financing statement form. A filing office that accepts written records
17may not refuse to accept a written initial financing statement in the following form
18and format except for a reason set forth in s. 409.516 (2):


AB111,143,3
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):


AB111,146,6
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:
AB111,146,97 (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
AB111,146,1210 (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.
AB111,146,17 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).
AB111,146,23 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:
AB111,146,2524 (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
AB111,147,1
1(b) Send the copy to the person.
AB111,147,4 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:
AB111,147,55 (a) The information in the record;
AB111,147,66 (b) The number assigned to the record pursuant to s. 409.519 (1) (a); and
AB111,147,77 (c) The date and time of the filing of the record.
AB111,147,10 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:
AB111,147,1311 (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:
AB111,147,1514 1. Designates a particular debtor or, if the request so states, designates a
15particular debtor at the address specified in the request;
AB111,147,1716 2. Has not lapsed under s. 409.515 with respect to all secured parties of record;
17or
AB111,147,1918 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);
AB111,147,2020 (b) The date and time of filing of each financing statement; and
AB111,147,2121 (c) The information provided in each financing statement.
AB111,148,2 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.
AB111,148,5 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:
Loading...
Loading...