AB453,,6565242.08 (7) The following rules determine the burden of proving matters referred to in this section:

AB453,,6666(a) A party that seeks to invoke sub. (1), (4), (5), or (6) has the burden of proving the applicability of that subsection.

AB453,,6767(b) Except as otherwise provided in pars. (c) and (d), the creditor has the burden of proving each applicable element of sub. (2) or (3).

AB453,,6868(c) The transferee has the burden of proving the applicability to the transferee of sub. (2) (am) 2. a. or b.

AB453,,6969(d) A party that seeks adjustment under sub. (3) has the burden of proving the adjustment.

AB453,,7070(8) The standard of proof required to establish matters referred to in this section is preponderance of the evidence.

AB453,,7272242.094 Governing law. (1) In this section, the following rules determine a debtor’s location:

AB453,,7373(a) A debtor who is an individual is located at the individual’s principal residence.

AB453,,7474(b) A debtor that is an organization and has only one place of business is located at its place of business.

AB453,,7575(c) A debtor that is an organization and that has more than one place of business is located at its chief executive office.

AB453,,7676(2) A claim for relief in the nature of a claim for relief under this chapter is governed by the local law of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred.

AB453,,7878242.096 Application to series organization. (1) In this section:

AB453,,7979(a) “Protected series” means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics set forth in par. (b).

AB453,,8080(b) “Series organization” means an organization that, pursuant to the law under which it is organized, has the following characteristics:

AB453,,81811. The organic record of the organization provides for creation by the organization of one or more protected series, however denominated, with respect to specified property of the organization, and for records to be maintained for each protected series that identify the property of or associated with the protected series.

AB453,,82822. Debt incurred or existing with respect to the activities of, or property of or associated with, a particular protected series is enforceable against the property of or associated with the protected series only, and not against the property of or associated with the organization or other protected series of the organization.

AB453,,83833. Debt incurred or existing with respect to the activities or property of the organization is enforceable against the property of the organization only, and not against the property of or associated with a protected series of the organization.

AB453,,8484(2) A series organization and each protected series of the organization is a separate person for purposes of this chapter, even if for other purposes a protected series is not a person separate from the organization or other protected series of the organization.

AB453,,8686242.12 Relation to electronic signatures in global and national commerce act. This chapter modifies, limits, or supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 USC 7001 to 7031, but does not modify, limit, or supersede section 101 (c) of that act, 15 USC 7001 (c), or authorize electronic delivery of any of the notices described in section 103 (b) of that act, 15 USC 7003 (b).

AB453,,8888242.13 Short title. This chapter may be cited as the Uniform Voidable Transactions Law.

AB453,,9090402.402 (3) (b) Where identification to the contract or delivery is made not in current course of trade but in satisfaction of or as security for a preexisting claim for money, security or the like and is made under circumstances which under any rule of law of the state where the goods are situated would apart from this chapter constitute the transaction a fraudulent or voidable transfer or voidable preference.

AB453,,9292411.308 (2) (b) The lease contract is made under circumstances that under any statute or rule of law apart from this chapter would constitute the transaction a fraudulent or voidable transfer or voidable preference.