409.333 Priority of certain liens arising by operation of law. - Wisconsin Statutes

409.333

409.333 Priority of certain liens arising by operation of law.

409.333(1)

(1) Possessory lien. In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

409.333(1)(a)

(a) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

409.333(1)(b)

(b) Which is created by statute or rule of law in favor of the person; and

409.333(1)(c)

(c) Whose effectiveness depends on the person's possession of the goods.

409.333(2)

(2) Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

409.333 - ANNOT.

History: 2001 a. 10.