2014 Wyoming Statutes
TITLE 34.1 - UNIFORM COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
(a) Except as otherwise provided in subsections (c) and (d), this article applies to:
(i) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract;
(ii) An agricultural lien;
(iii) A sale of accounts, chattel paper, payment intangibles or promissory notes;
(iv) A consignment;
(v) A security interest arising under section 34.1-2-401, 34.1-2-505, 34.1-2-711(c) or 34.1-2A-508(e), as provided in section 34.1-9-110; and
(vi) A security interest arising under section 34.1-4-210 or 34.1-5-118.
(b) The application of this article to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this article does not apply.
(c) This article does not apply to the extent that:
(i) A statute, regulation or treaty of the United States preempts this article;
(ii) Another statute of this state expressly governs the creation, perfection, priority or enforcement of a security interest created by this state or a governmental unit of this state;
(iii) A statute of another state, a foreign country or a governmental unit of another state or a foreign country, other than a statute generally applicable to security interests, expressly governs creation, perfection, priority or enforcement of a security interest created by the state, country or governmental unit; or
(iv) The rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under section 34.1-5-114.
(d) This article does not apply to:
(i) A landlord's lien, other than an agricultural lien;
(ii) A lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but section 34.1-9-333 applies with respect to priority of the lien;
(iii) An assignment of a claim for wages, salary or other compensation of an employee;
(iv) A sale of accounts, chattel paper, payment intangibles or promissory notes as part of a sale of the business out of which they arose;
(v) An assignment of accounts, chattel paper, payment intangibles or promissory notes which is for the purpose of collection only;
(vi) An assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract;
(vii) An assignment of a single account, payment intangible or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness;
(viii) A transfer of an interest in or an assignment of a claim under a policy of insurance, other than an assignment by or to a health-care provider of a health-care-insurance receivable and any subsequent assignment of the right to payment, but sections 34.1-9-315 and 34.1-9-322 apply with respect to proceeds and priorities in proceeds;
(ix) An assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral;
(x) A right of recoupment or set-off, but:
(A) Section 34.1-9-340 applies with respect to the effectiveness of rights of recoupment or set-off against deposit accounts; and
(B) Section 34.1-9-404 applies with respect to defenses or claims of an account debtor.
(xi) The creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:
(A) Liens on real property in sections 34.1-9-203 and 34.1-9-308;
(B) Fixtures in section 34.1-9-334;
(C) Fixture filings in sections 34.1-9-501, 34.1-9-502, 34.1-9-512, 34.1-9-516 and 34.1-9-519; and
(D) Security agreements covering personal and real property in section 34.1-9-604.
(xii) An assignment of a claim arising in tort, other than a commercial tort claim, but sections 34.1-9-315 and 34.1-9-322 apply with respect to proceeds and priorities in proceeds;
(xiii) An assignment of a deposit account in a consumer transaction, but sections 34.1-9-315 and 34.1-9-322 apply with respect to proceeds and priorities in proceeds; or
(xiv) Notwithstanding paragraph (c)(ii) of this section, a transfer by this state or governmental unit of this state.
Disclaimer: These codes may not be the most recent version. Wyoming may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.