# Wis. Stat. § 408.107: Whether endorsement, instruction or entitlement order is effective > Wisconsin · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.107 ## Section - **Citation:** Wis. Stat. § 408.107 - **Heading:** Whether endorsement, instruction or entitlement order is effective - **Jurisdiction:** Wisconsin - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** WI Code / Chapter 408 / Section 408.107 ## Text (1) In this chapter, “appropriate person” means: (a) With respect to an endorsement, the person specified by a security certificate or by an effective special endorsement to be entitled to the security; (b) With respect to an instruction, the registered owner of an uncertificated security; (c) With respect to an entitlement order, the entitlement holder; (d) If the person designated in par. (a) , (b) or (c) is deceased, the designated person’s successor taking under other law or the designated person’s personal representative acting for the estate of the decedent; or (e) If the person designated in par. (a) , (b) or (c) lacks capacity, the designated person’s guardian, conservator or other similar representative who has power under other law to transfer the security or financial asset. (2) An endorsement, instruction or entitlement order is effective if: (a) It is made by the appropriate person; (b) It is made by a person who has power under the law of agency to transfer the security or financial asset on behalf of the appropriate person, including, in the case of an instruction or entitlement order, a person who has control under s. 408.106 (3) (b) or (4) (b) ; or (c) The appropriate person has ratified it or is otherwise precluded from asserting its ineffectiveness. (3) An endorsement, instruction or entitlement order made by a representative is effective even if: (a) The representative has failed to comply with a controlling instrument or with the law of the state having jurisdiction of the representative relationship, including any law requiring the representative to obtain court approval of the transaction; or (b) The representative’s action in making the endorsement, instruction or entitlement order or using the proceeds of the transaction is otherwise a breach of duty. (4) If a security is registered in the name of or specially endorsed to a person described as a representative, or if a securities account is maintained in the name of a person described as a representative, an endorsement, instruction or entitlement order made by the person is effective even though the person is no longer serving in the described capacity. (5) Effectiveness of an endorsement, instruction or entitlement order is determined as of the date the endorsement, instruction or entitlement order is made, and an endorsement, instruction or entitlement order does not become ineffective by reason of any later change of circumstances. History: 1997 a. 297 . ## Nearby sections - [Wis. Stat. § 408.101 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.101.md) - [Wis. Stat. § 408.102 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.102.md) - [Wis. Stat. § 408.103 Rules for determining whether certain obligations and interests are securities or financial assets.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.103.md) - [Wis. Stat. § 408.104 Acquisition of security or financial asset or interest therein.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.104.md) - [Wis. Stat. § 408.105 Notice of adverse claim.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.105.md) - [Wis. Stat. § 408.106 Control.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.106.md) - [Wis. Stat. § 408.107 Whether endorsement, instruction or entitlement order is effective.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.107.md) - [Wis. Stat. § 408.108 Warranties in direct holding.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.108.md) - [Wis. Stat. § 408.109 Warranties in indirect holding.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.109.md) - [Wis. Stat. § 408.110 Applicability; choice of law.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.110.md) - [Wis. Stat. § 408.111 Clearing corporation rules.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.111.md) - [Wis. Stat. § 408.112 Creditor’s legal process.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.112.md) - [Wis. Stat. § 408.113 Statute of frauds inapplicable.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.113.md) - [Wis. Stat. § 408.114 Evidentiary rules concerning certificated securities.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.114.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.107. Check the current official text before relying on it. Not legal advice.