779.90 Notice of existence of lien. A person is deemed to have notice of a prepaid maintenance lien if: (1) That person has actual knowledge or reason to know that the lien exists on the seller’s property; (2) That person has reason to know that the seller regularly demands or accepts prepayments for maintenance; (3) The seller engages in a type of business that generally requests or demands prepayment for maintenance; or (4) The lien was filed as permitted in s. 779.89. of the prepaid maintenance lien is theft by the seller and is punishable under s. 943.20. If the seller is a corporation, such misuse is also deemed theft by any officer, director or agent of the corporation responsible for the misappropriation. Any of the misappropriated proceeds which have been received as salary, dividend, loan repayment, capital distribution or otherwise by any shareholder of the corporation not responsible for the misappropriation is a civil liability of the shareholder and may be recovered and restored to the escrow account by action brought by any interested party. History: 1977 c. 296; 1979 c. 32 s. 57; Stats. 1979 s. 779.94.
SUBCHAPTER XI FEDERAL LIEN REGISTRATION
History: 1977 c. 296; 1979 c. 32 ss. 57, 92 (9); Stats. 1979 s. 779.90.