# Wis. Stat. § 408.109: Warranties in indirect holding

> Wisconsin · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.109

## Section

- **Citation:** Wis. Stat. § 408.109
- **Heading:** Warranties in indirect holding
- **Jurisdiction:** Wisconsin
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** WI Code / Chapter 408 / Section 408.109

## Text

(1) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:

(a) The entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and

(b) There is no adverse claim to the security entitlement.

(2) A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in s. 408.108 (1) or (2) .

(3) If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in s. 408.108 (1) or (2) .

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)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.109. Check the current official text before relying on it. Not legal advice.