(1) GENERAL SCOPE OF CHAPTER. Except as otherwise provided in subs. (3) and (4), and s. 16.63 (4) on transactions involving tobacco settlement revenues, this chapter applies to: (a) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (b) An agricultural lien; (c) A sale of accounts, chattel paper, payment intangibles, or promissory notes; (d) A consignment; (e) A security interest arising under s. 402.401, 402.505, 402.711 (3), or 411.508 (5), as provided in s. 409.110; and (f) A security interest arising under s. 404.210 or 405.118. (2) SECURITY INTEREST IN SECURED OBLIGATION. The application of this chapter to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this chapter does not apply. (3) EXTENT TO WHICH CHAPTER DOES NOT APPLY. This chapter does not apply to the extent that: (a) A statute, regulation, or treaty of the United States preempts this chapter; (b) Another statute of this state expressly governs the creation, perfection, priority, or enforcement of a security interest created by this state or a governmental unit of this state; (c) A statute of another state, a foreign country, or a governmental unit of another state or a foreign country, other than a statute generally applicable to security interests, expressly governs creation, perfection, priority, or enforcement of a security interest created by the state, country, or governmental unit; or (d) The rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under ch. 405. (4) INAPPLICABILITY OF CHAPTER. This chapter does not apply to: (a) A landlord’s lien, other than an agricultural lien; (b) A lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but s. 409.333 applies with respect to priority of the lien; (c) An assignment of a claim for wages, salary, or other compensation of an employee; (cm) An assignment of a claim or right to receive compensation for injuries or sickness under a worker’s compensation or worker’s disability statute of any state; (d) A sale of accounts, chattel paper, payment intangibles, or promissory notes as part of a sale of the business out of which they arose; (e) An assignment of accounts, chattel paper, payment intangibles, or promissory notes which is for the purpose of collection only; (f) An assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract; (g) An assignment of a single account, payment intangible, or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness; (h) A transfer of an interest in or an assignment of a claim under a policy of insurance, other than an assignment by or to a health-care provider of a health-care-insurance receivable and any subsequent assignment of the right to payment, but ss. 409.315 and 409.322 apply with respect to proceeds and priorities in proceeds; (i) An assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral; (j) A right of recoupment or setoff, but: 1. Section 409.340 applies with respect to the effectiveness of rights of recoupment or setoff against deposit accounts; and 2. Section 409.404 applies with respect to defenses or claims of an account debtor; (k) The creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for: 1. Liens on real property in ss. 409.203 and 409.308; 2. Fixtures in s. 409.334; 3. Fixture filings in ss. 409.501, 409.502, 409.512, 409.516, and 409.519; and 4. Security agreements covering personal and real property in s. 409.604; (L) An assignment of a claim arising in tort, other than a commercial tort claim, but ss. 409.315 and 409.322 apply with respect to proceeds and priorities in proceeds; or (m) An assignment of a deposit account in a consumer transaction, but ss. 409.315 and 409.322 apply with respect to proceeds and priorities in proceeds.
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