409.516(2)(c)3.
3. In the case of an initial financing statement that provides the name of a debtor identified as an individual or an amendment that provides a name of a debtor identified as an individual which was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's surname; or
409.516(2)(c)4.
4. In the case of a record filed or recorded in the filing office described in s.
409.501 (1) (a), the record does not provide a sufficient description of the real property to which it relates;
409.516(2)(d)
(d) In the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record;
409.516(2)(e)
(e) In the case of an initial financing statement or an amendment that provides a name of a debtor which was not previously provided in the financing statement to which the amendment relates, the record does not:
409.516(2)(e)2.
2. Indicate whether the name provided as the name of the debtor is the name of an individual or an organization;
409.516(2)(f)
(f) In the case of an assignment reflected in an initial financing statement under s.
409.514 (1) or an amendment filed under s.
409.514 (2), the record does not provide a name and mailing address for the assignee; or
409.516(2)(g)
(g) In the case of a continuation statement, the record is not filed within the 6-month period prescribed by s.
409.515 (4).
409.516(2)(h)
(h) The record contains the social security number of an individual.
409.516(3)
(3)
Rules applicable to sub. (2). For purposes of sub.
(2):
409.516(3)(a)
(a) A record does not provide information if the filing office is unable to read or decipher the information; and
409.516(3)(b)
(b) A record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by s.
409.512,
409.514, or
409.518, is an initial financing statement.
409.516(4)
(4)
Refusal to accept record; record effective as filed record. A record that is communicated to the filing office with tender of the filing fee, but which the filing office refuses to accept for a reason other than one set forth in sub.
(2), is effective as a filed record except as against a purchaser of the collateral which gives value in reasonable reliance upon the absence of the record from the files.
409.517
409.517
Effect of indexing errors. The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record.
409.517 History
History: 2001 a. 10.
409.518
409.518
Claim concerning inaccurate or wrongfully filed record. 409.518(1)(1)
Statement with respect to record indexed under person's name. A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed.
409.518(2)
(2)
Contents of statement under sub. (1). An information statement under sub.
(1) must:
409.518(2)(a)1.
1. The file number assigned to the initial financing statement to which the record relates; and
409.518(2)(a)2.
2. If the information statement relates to a record filed or recorded in a filing office described in s.
409.501 (1) (a), the date on which the initial financing statement was filed or recorded and the information specified in s.
409.502 (2);
409.518(2)(b)
(b) Indicate that it is an information statement; and
409.518(2)(c)
(c) Provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.
409.518(3m)
(3m)
Statement by secured party of record. A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under s.
409.509 (4).
409.518(4)
(4)
Contents of statement under sub. (3m). An information statement under sub.
(3m) must:
409.518(4)(a)1.
1. The file number assigned to the initial financing statement to which the record relates; and
409.518(4)(a)2.
2. If the information statement relates to a record filed or recorded in a filing office described in s.
409.501 (1) (a), the date that the initial financing statement was filed or recorded and the information specified in s.
409.502 (2);
409.518(4)(b)
(b) Indicate that it is an information statement; and
409.518(4)(c)
(c) Provide the basis for the person's belief that the person that filed the record was not entitled to do so under s.
409.509 (4).
409.518(5)
(5)
Record not affected by information statement. The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
409.518 History
History: 2001 a. 10;
2011 a. 206.
409.519
409.519
Numbering, maintaining, and indexing records; communicating information provided in records. 409.519(1)(1)
Filing-office duties. For each record filed in a filing office, the filing office shall:
409.519(1)(b)
(b) Create a record that bears the number assigned to the filed record and the date and time of filing;
409.519(1)(c)
(c) Maintain the filed record for public inspection; and
409.519(2)
(2)
File number. A file number assigned after January 1, 2002, must include a digit that:
409.519(2)(a)
(a) Is mathematically derived from or related to the other digits of the file number; and
409.519(2)(b)
(b) Aids the filing office in determining whether a number communicated as the file number includes a single-digit or transpositional error.
409.519(3)
(3)
Indexing: general. Except as otherwise provided in subs.
(4) and
(5), the filing office shall:
409.519(3)(a)
(a) Index an initial financing statement according to the name of the debtor and index all filed records relating to the initial financing statement in a manner that associates with one another an initial financing statement and all filed records relating to the initial financing statement; and
409.519(3)(b)
(b) Index a record that provides a name of a debtor which was not previously provided in the financing statement to which the record relates also according to the name that was not previously provided.
409.519(4)
(4)
Indexing: real-property-related financing statement. If a financing statement is filed as a fixture filing or covers as-extracted collateral or timber to be cut, it must be filed for record and the filing office shall index it:
409.519(4)(a)
(a) Under the names of the debtor and of each owner of record shown on the financing statement as if they were the mortgagors under a mortgage of the real property described; and
409.519(4)(b)
(b) To the extent that the law of this state provides for indexing of records of mortgages under the name of the mortgagee, under the name of the secured party as if the secured party were the mortgagee thereunder, or, if indexing is by description, as if the financing statement were a record of a mortgage of the real property described.
409.519(5)
(5)
Indexing: real-property-related assignment. If a financing statement is filed as a fixture filing or covers as-extracted collateral or timber to be cut, the filing office shall index an assignment filed under s.
409.514 (1) or an amendment filed under s.
409.514 (2):
409.519(5)(b)
(b) To the extent that the law of this state provides for indexing a record of the assignment of a mortgage under the name of the assignee, under the name of the assignee.
409.519(6)
(6)
Retrieval and association capability. The filing office shall maintain a capability:
409.519(6)(a)
(a) To retrieve a record by the name of the debtor and:
409.519(6)(a)1.
1. If the filing office is described in s.
409.501 (1) (a), by the file number assigned to the initial financing statement to which the record relates and the date on which the record was filed or recorded; or
409.519(6)(a)2.
2. If the filing office is described in s.
409.501 (1) (b), by the file number assigned to the initial financing statement to which the record relates; and
409.519(6)(b)
(b) To associate and retrieve with one another an initial financing statement and each filed record relating to the initial financing statement.
409.519(7)
(7)
Removal of debtor's name. The filing office may not remove a debtor's name from the index until one year after the effectiveness of a financing statement naming the debtor lapses under s.
409.515 with respect to all secured parties of record.
409.519(8)
(8)
Timeliness of filing-office performance. The filing office shall perform the acts required by subs.
(1) to
(5) at the time and in the manner prescribed by filing-office rule, but not later than:
409.519(8)(a)
(a) Five business days after the filing office receives the record in question for acts performed before July 1, 2003; and
409.519(8)(b)
(b) Two business days after the filing office receives the record in question for acts performed on or after July 1, 2003.
409.519(9)
(9)
Inapplicability to real-property-related filing office. Subsection
(2) does not apply to a filing office described in s.
409.501 (1) (a).
409.519 History
History: 2001 a. 10;
2003 a. 206.
409.520
409.520
Acceptance and refusal to accept record; social security numbers. 409.520(1)(1)
Mandatory refusal to accept record. A filing office shall refuse to accept a record for filing for a reason set forth in s.
409.516 (2) and may refuse to accept a record for filing only for a reason set forth in s.
409.516 (2).
409.520(1m)(a)(a) A filing office may not file and index a record under this subchapter if the record contains the social security number of an individual. If a filing office is presented with a record that contains an individual's social security number, the filing office may, prior to filing and indexing the record, remove or obscure characters from the social security number such that the social security number is not discernable on the record.
409.520(1m)(b)
(b) If a filing office is presented with a record for filing and indexing that contains an individual's social security number, and if the filing office does not discover that the record contains the individual's social security number until after the record is filed and indexed, the filing office is not liable for the record drafter's placement of the individual's social security number on the record and the filing office may remove or obscure characters from the social security number such that the social security number is not discernable on the record.
409.520(1m)(c)
(c) If a filing office files and indexes a record that contains the complete social security number of an individual, the record drafter is liable to the individual whose social security number appears in the filed and indexed record for any actual damages resulting from the record being filed and indexed.
409.520(2)
(2)
Communication concerning refusal. If a filing office refuses to accept a record for filing, the filing office shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted the record. The communication must be made at the time and in the manner prescribed by filing-office rule but, in no event more than:
409.520(2)(a)
(a) Five business days after the filing office receives the record for records received before July 1, 2003; and
409.520(2)(b)
(b) Two business days after the filing office receives the record for records received on or after July 1, 2003.
409.520(3)
(3)
When filed financing statement effective. A filed financing statement satisfying s.
409.502 (1) and
(2) is effective, even if the filing office is required to refuse to accept it for filing under sub.
(1). However, s.
409.338 applies to a filed financing statement providing information described in s.
409.516 (2) (e) which is incorrect at the time the financing statement is filed.
409.520(4)
(4)
Separate application to multiple debtors. If a record communicated to a filing office provides information that relates to more than one debtor, this subchapter applies as to each debtor separately.
409.520 History
History: 2001 a. 10;
2009 a. 347.
409.521
409.521
Uniform form of written financing statement and amendment. 409.521(1)(1)
Tax identification number. In publishing instructions for the forms specified in subs.
(2) and
(3), the department of financial institutions shall include a statement, where applicable, that inclusion of an employer identification number is not required under Wisconsin law.
409.521(2)
(2)
Initial financing statement form. A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format except for a reason set forth in s.
409.516 (2):
409.521(3)
(3)
Amendment form. A filing office that accepts written records may not refuse to accept a written record in the following form and format except for a reason set forth in s.
409.516 (2):
409.522
409.522
Maintenance and destruction of records. 409.522(1)(1)
Postlapse maintenance and retrieval of information. The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under s.
409.515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and:
409.522(1)(a)
(a) If the record was filed or recorded in the filing office described in s.
409.501 (1) (a), by using the file number assigned to the initial financing statement to which the record relates and the date on which the record was filed or recorded; or
409.522(1)(b)
(b) If the record was filed in the filing office described in s.
409.501 (1) (b), by using the file number assigned to the initial financing statement to which the record relates.
409.522(2)
(2)
Destruction of written records. Except to the extent that a statute governing disposition of public records provides otherwise, the filing office may destroy immediately any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with sub.
(1).
409.522 History
History: 2001 a. 10.
