Title 34.1, Title 34.1 — Uniform Commercial Code

Numbering, maintaining, and indexing records; communicating information provided in records. (a) For each record filed in a filing office, the filing office shall: (i) Assign a unique number to the filed record; (ii) Create a record that bears the number assigned to the filed rec…

Acceptance and refusal to accept record. (a) A filing office shall refuse to accept a record for filing for a reason set forth in section 34.1-9-516(b) and may refuse to accept a record for filing only for a reason set forth in section 34.1-9-516(b). (b) If a filing office refuse…

Uniform form of written financing statement and amendment. (a) Repealed By Laws 2013, Ch. 8, § 3. (b) Repealed By Laws 2013, Ch. 8, § 3. (c) A filing office that accepts written records may not refuse to accept a written initial financing statement in the form and format prescrib…

Maintenance and destruction of records. (a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one (1) year after the effectiveness of the financing statement has lapsed under section 34.1-9-515 with respect to all se…

Information from filing office; sale or license of records. (a) If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record pursuant to section 34.1-9…

Delay by filing office. (a) Delay by the filing office beyond a time limit prescribed by this part is excused if: (i) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment or other circumstances beyond control…

Fees. (a) Except as otherwise provided in subsection (e), fees for services rendered by the filing office under this part must be set by rule adopted by the secretary of state. The rule must set the fees for filing and indexing a record under this article on the following basis: …

Filing-office rules. (a) The secretary of state shall adopt and publish rules to implement this article. The filing-office rules must be: (i) Consistent with this article; and (ii) Adopted and published in accordance with the Wyoming Administrative Procedure Act. (b) To keep the …

Repealed By Laws 2008, Ch. 44, § 2. PART 6 DEFAULT

Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes. (a) After default, a secured party has the rights provided in this part and, except as otherwise provided in section 34.1-9-602, those provided by a…

Waiver and variance of rights and duties. (a) Except as otherwise provided in section 34.1-9-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed …

Agreement on standards concerning rights and duties. (a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in section 34.1-9-602 if the standards are not manife…

Procedure if security agreement covers real property or fixtures. (a) If a security agreement covers both personal and real property, a secured party may proceed: (i) Under this part as to the personal property without prejudicing any rights with respect to the real property; or …

Unknown debtor or secondary obligor. (a) A secured party does not owe a duty based on its status as secured party: (i) To a person that is a debtor or obligor, unless the secured party knows: (A) That the person is a debtor or obligor; (B) The identity of the person; and (C) How …

Time of default for agricultural lien. For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.

Collection and enforcement by secured party. (a) If so agreed, and in any event after default, a secured party: (i) May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (ii…

Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. (a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (i) A secured party shall apply or pay over for applica…

Secured party's right to take possession after default. (a) After default, a secured party: (i) May take possession of the collateral; and (ii) Without removal, may render equipment unusable and dispose of collateral on a debtor's premises under section

Disposition of collateral after default. (a) After default, a secured party may sell, lease, license or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. (b) Every aspect of a disposition…

Notification before disposition of collateral. (a) In this section, "notification date" means the earlier of the date on which: (i) A secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or (ii) The debtor and any secondary obl…

Timeliness of notification before disposition of collateral. (a) Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact. (b) In a transaction other than a consumer transaction, a notification of disposition se…

Contents and form of notification before disposition of collateral: general. (a) Except in a consumer-goods transaction, the following rules apply: (i) The contents of a notification of disposition are sufficient if the notification: (A) Describes the debtor and the secured party…

Contents and form of notification before disposition of collateral: consumer-goods transaction. (a) In a consumer-goods transaction, the following rules apply: (i) A notification of disposition must provide the following information: (A) The information specified in section 34.1-…

Application of proceeds of disposition; liability for deficiency and right to surplus. (a) A secured party shall apply or pay over for application the cash proceeds of disposition under W.S. 34.1-9-610 in the following order to: (i) The reasonable expenses of retaking, holding, p…

(e) A secured party is not liable under section 34.1-9-625(c)(ii) more than once with respect to any one (1) secured obligation. PART 7 TRANSITION

Rights of transferee of collateral. (a) A secured party's disposition of collateral after default: (i) Transfers to a transferee for value all of the debtor's rights in the collateral; (ii) Discharges the security interest under which the disposition is made; and (iii) Discharges…

Rights and duties of certain secondary obligors. (a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (i) Receives an assignment of a secured obligation from the secured party; (ii) Receives a tr…

Transfer of record or legal title. (a) In this section, "transfer statement" means a record authenticated by a secured party stating: (i) That the debtor has defaulted in connection with an obligation secured by specified collateral; (ii) That the secured party has exercised its …

Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. (a) Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: (i) The de…

Notification of proposal to accept collateral. (a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (i) Any person from which the secured party has received, before the debtor consented to t…

Effect of acceptance of collateral. (a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures: (i) Discharges the obligation to the extent consented to by the debtor; (ii) Transfers to the secured party all of a debtor's rights in…

Right to redeem collateral. (a) A debtor, any secondary obligor or any other secured party or lienholder may redeem collateral. (b) To redeem collateral, a person shall tender: (i) Fulfillment of all obligations secured by the collateral; and (ii) The reasonable expenses and atto…

Waiver. (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 34.1-9-611 only by an agreement to that effect entered into and authenticated after default. (b) A debtor may waive the right to require disposition of collate…

Remedies for secured party's failure to comply with article. (a) If it is established that a secured party is not proceeding in accordance with this article, a court may order or restrain collection, enforcement or disposition of collateral on appropriate terms and conditions. (b…

Action in which deficiency or surplus is in issue. (a) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply: (i) A secured party need not prove compliance with the provisi…

Determination of whether conduct was commercially reasonable. (a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition or acceptance at a different time or in a different method from that selected by the secured party is not of itself …

Nonliability and limitation on liability of secured party; liability of secondary obligor. (a) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person: (i) The secured party is not liable to…

Effective date. This act takes effect on July 1, 2001. References in this part to "this Act" refer to the legislative enactment by which this part is added to article 9 of title 34. References in this part to "former article 9" are to article of title 34 as in effect immediately …

Savings clause. (a) Except as otherwise provided in this part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this act takes effect. (b) Except as otherwise provided in subsection (c) and sections 34.…

Security interest perfected before effective date. (a) A security interest that is enforceable immediately before this act takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if…

Security interest unperfected before effective date. (a) A security interest that is enforceable immediately before this act takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (i) Remains an enforceable security intere…

Effectiveness of action taken before effective date. (a) If action, other than the filing of a financing statement, is taken before this act takes effect and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor…

When initial financing statement suffices to continue effectiveness of financing statement. (a) The filing of an initial financing statement in the office specified in section 34.1-9-501 continues the effectiveness of a financing statement filed before this act takes effect if: (…

Amendment of preeffective date financing statement. (a) In this section, "pre-effective-date financing statement" means a financing statement filed before this act takes effect. (b) After this act takes effect, a person may add or delete collateral covered by, continue or termina…

Persons entitled to file initial financing statement or continuation statement. (a) A person may file an initial financing statement or a continuation statement under this part if: (i) The secured party of record authorizes the filing; and (ii) The filing is necessary under this …

Priority. (a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, former article 9 determines priority. (b) For purposes of section 34.1-9-322(a), the priority of a …