342.23 Secured party's and owner's duties.
(1) A secured party named in a certificate of title shall, upon written request of the owner or of another secured party named on the certificate, disclose any pertinent information as to the party's security agreement and the indebtedness secured by it.
(2) An owner or person in possession of the owner's certificate of title, as shown by the records of the department, shall promptly deliver the certificate of title to any secured party who is named on it or who has a security interest in the vehicle described in it under any other applicable prior law of this state, upon receipt of a notice from such secured party that the security interest is to be assigned, extended or perfected.
(3) Any secured party who fails to disclose information pursuant to sub. (1) shall be liable for any loss caused to owner thereby.
(4) Any owner or other person in possession of the owner's certificate of title who fails to deliver the certificate of title to a secured party requesting it pursuant to sub. (2) shall be liable to such secured party for any loss caused to the secured party thereby and may be required to forfeit not more than $200.
History: 1971 c. 278; 1991 a. 316; 1993 a. 159; 2011 a. 32.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 342 - Vehicle title and anti-theft law.
342.01 - Words and phrases defined.
342.02 - Excepted liens and security interests.
342.03 - Motor vehicle, trailer or semitrailer leases.
342.05 - When certificate of title required.
342.06 - Application for certificate of title.
342.065 - Title for salvage vehicle.
342.07 - Title for repaired salvage vehicle.
342.08 - Department to examine records.
342.09 - When department to issue certificate and to whom; maintenance of records.
342.10 - Contents of certificate of title.
342.11 - Grounds for refusing issuance of certificate of title.
342.12 - Withholding certificate of title; bond.
342.13 - Lost, stolen or mutilated certificates.
342.15 - Transfer of interest in a vehicle.
342.155 - Mileage disclosure requirements of transferors and transferees.
342.156 - Transfers of leased motor vehicles.
342.157 - Motor vehicle salvage pools and auction companies to maintain records.
342.16 - Transfer to or from dealer.
342.17 - Involuntary transfers.
342.18 - When department to issue a new certificate.
342.19 - Perfection of security interests.
342.195 - Notification of person who has perfected security interest.
342.20 - Duties on creation of security interest.
342.21 - Assignment of security interest.
342.22 - Release of security interest.
342.23 - Secured party's and owner's duties.
342.24 - Method of perfecting exclusive.
342.245 - Electronic processing of certain applications.
342.25 - Suspension or revocation of certificate.
342.255 - Cancellation of title or registration.
342.30 - Identification numbers.
342.31 - Report of stolen or abandoned motor vehicles.
342.32 - Counterfeiting and unlawful possession of certificate of title.
342.33 - Sale of vehicle used as taxicab.
342.34 - Department to be notified of destruction or junking of vehicle.