Wisconsin § 404.407 - Payer bank’s right to subrogation on improper payment.
Full text of Wisconsin Wisconsin Statutes § 404.407 — Payer bank’s right to subrogation on improper payment., with citation guidance and answers to common questions.
§ 404.407. Payer bank’s right to subrogation on improper payment.
If a payer bank has paid an item over the order of the drawer or maker to stop payment, or after an account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payer bank is subrogated to the rights of all of the following: 404.407(1) (1) Any holder in due course on the item against the drawer or maker. 404.407(2) (2) The payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose. 404.407(3) (3) The drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose. 404.407 History History: 1995 a. 449 . subch. V of ch. 404 SUBCHAPTER V COLLECTION OF DOCUMENTARY DRAFTS
Source: official Wisconsin text · Last verified 2026-08-27
Frequently Asked Questions About Wisconsin § 404.407
What does Wisconsin Statutes § 404.407 cover?
Section 404.407 ("Payer bank’s right to subrogation on improper payment.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 404.407?
A common citation format is "Wisconsin Statutes § 404.407" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 404.407 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.