Law

Title 34.1 Uniform Commercial Code

Wyoming · 34.1 · statute

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Contents: 647 provisions
  1. 34.1-1-101. Short titles.
  2. 34.1-1-102. Scope of article.
  3. 34.1-1-103. Construction of this act to promote its
  4. 34.1-1-104. Construction against implied repeal.
  5. 34.1-1-105. Severability.
  6. 34.1-1-106. Use of singular and plural; gender.
  7. 34.1-1-107. Section captions.
  8. 34.1-1-108. Relation to electronic signatures in global and national commerce act.
  9. 34.1-1-109. Repealed and Recreated by Laws 2015, ch. 124, § 1.
  10. 34.1-1-201. General definitions.
  11. 34.1-1-202. Notice; knowledge.
  12. 34.1-1-203. Lease distinguished from security interest.
  13. 34.1-1-204. Value.
  14. 34.1-1-205. Reasonable time; seasonableness.
  15. 34.1-1-206. Presumptions.
  16. 34.1-1-207. Repealed and Recreated by Laws 2015, ch. 124, § 1.
  17. 34.1-1-208. Repealed and Recreated by Laws 2015, ch. 124, § 1.
  18. 34.1-1-209. Repealed and Recreated by Laws 2015, ch. 124, § 1.
  19. 34.1-1-210. Applicability of other sections.
  20. 34.1-1-301. Territorial applicability; parties' power to choose applicable law.
  21. 34.1-1-302. Variation by agreement.
  22. 34.1-1-303. Course of performance; course of dealing; usage of trade.
  23. 34.1-1-304. Obligation of good faith.
  24. 34.1-1-305. Remedies to be liberally administered.
  25. 34.1-1-306. Waiver or renunciation of claim or right after breach.
  26. 34.1-1-307. Prima facie evidence by third-party documents.
  27. 34.1-1-308. Performance or acceptance under reservation of rights.
  28. 34.1-1-309. Option to accelerate at will.
  29. 34.1-1-310. Subordinated obligations.
  30. 34.1-2-101. Short title.
  31. 34.1-2-102. Scope; certain security and other transactions excluded from this article.
  32. 34.1-2-103. Definitions and index of definitions.
  33. 34.1-2-104. Definitions: "Merchant"; "between merchants"; "financing agency".
  34. 34.1-2-105. Definitions: Transferability; "goods"; "future" goods; "lot"; "commercial unit".
  35. 34.1-2-106. Definitions: "Contract"; "agreement";
  36. 34.1-2-107. Goods to be severed from realty; recording.
  37. 34.1-2-201. Formal requirements; statute of frauds.
  38. 34.1-2-202. Final written expression; parol or extrinsic evidence.
  39. 34.1-2-203. Seals inoperative.
  40. 34.1-2-204. Formation in general.
  41. 34.1-2-205. Firm offers.
  42. 34.1-2-206. Offer and acceptance in formation of contract.
  43. 34.1-2-207. Additional terms in acceptance or confirmation.
  44. 34.1-2-208. Repealed by Laws 2015, ch. 124, § 3.
  45. 34.1-2-209. Modification, rescission and waiver.
  46. 34.1-2-210. Delegation of performance; assignment of rights.
  47. 34.1-2-301. General obligations of parties.
  48. 34.1-2-302. Unconscionable contract or clause.
  49. 34.1-2-303. Allocation or division of risks.
  50. 34.1-2-304. Price payable in money, goods, realty, or otherwise.
  51. 34.1-2-305. Open price term.
  52. 34.1-2-306. Output, requirements and exclusive dealings.
  53. 34.1-2-307. Delivery in single lot or several lots.
  54. 34.1-2-308. Absence of specified place for delivery.
  55. 34.1-2-309. Absence of specific time provisions; notice of termination.
  56. 34.1-2-310. Open time for payment or running of credit; authority to ship under reservation.
  57. 34.1-2-311. Options and cooperation respecting performance.
  58. 34.1-2-312. Warranty of title and against infringement; buyer's obligation against infringement.
  59. 34.1-2-313. Express warranties by affirmation, promise, description, sample.
  60. 34.1-2-314. Implied warranty; merchantability; usage of trade.
  61. 34.1-2-315. Implied warranty; fitness for particular purpose.
  62. 34.1-2-316. Exclusion or modification of warranties.
  63. 34.1-2-317. Cumulation and conflict of warranties express or implied.
  64. 34.1-2-318. Third party beneficiaries of warranties express or implied.
  65. 34.1-2-319. F.O.B. and F.A.S. terms.
  66. 34.1-2-320. C.I.F. and C. & F. terms.
  67. 34.1-2-321. C.I.F. or C. & F.; "net landed weights"; "payment on arrival"; warranty of condition on arrival.
  68. 34.1-2-322. Delivery "ex-ship".
  69. 34.1-2-323. Form of bill of lading required in overseas shipment; "overseas".
  70. 34.1-2-324. "No arrival, no sale" term.
  71. 34.1-2-325. "Letter of credit" term; "confirmed credit".
  72. 34.1-2-326. Sale on approval and sale or return; consignment sales and rights of creditors.
  73. 34.1-2-327. Special incidents of sale on approval and sale or return.
  74. 34.1-2-328. Sale by auction.
  75. 34.1-2-401. Passing of title; reservation for security; limited application of this section.
  76. 34.1-2-402. Rights of seller's creditors against sold goods.
  77. 34.1-2-403. Power to transfer; good faith purchase of goods; "entrusting".
  78. 34.1-2-501. Insurable interest in goods; manner of identification of goods.
  79. 34.1-2-502. Buyer's right to goods on seller's repudiation, failure to deliver or insolvency.
  80. 34.1-2-503. Manner of seller's tender of delivery.
  81. 34.1-2-504. Shipment by seller.
  82. 34.1-2-505. Seller's shipment under reservation.
  83. 34.1-2-506. Rights of financing agency.
  84. 34.1-2-507. Effect of seller's tender; delivery on condition.
  85. 34.1-2-508. Cure by seller of improper tender or delivery; replacement.
  86. 34.1-2-509. Risk of loss in the absence of breach.
  87. 34.1-2-510. Effect of breach on risk of loss.
  88. 34.1-2-511. Tender of payment by buyer; payment by check.
  89. 34.1-2-512. Payment by buyer before inspection.
  90. 34.1-2-513. Buyer's right to inspection of goods.
  91. 34.1-2-514. When documents deliverable on acceptance; when on payment.
  92. 34.1-2-515. Preserving evidence of goods in dispute.
  93. 34.1-2-601. Buyer's rights on improper delivery.
  94. 34.1-2-602. Manner and effect of rightful rejection.
  95. 34.1-2-603. Merchant buyer's duties as to rightfully rejected goods.
  96. 34.1-2-604. Buyer's options as to salvage of rightfully rejected goods.
  97. 34.1-2-605. Waiver of buyer's objections by failure to particularize.
  98. 34.1-2-606. What constitutes acceptance of goods.
  99. 34.1-2-607. Effect of acceptance; notice of breach; burden
  100. 34.1-2-608. Revocation of acceptance in whole or in part.
  101. 34.1-2-609. Right to adequate assurance of performance.
  102. 34.1-2-610. Anticipatory repudiation.
  103. 34.1-2-611. Retraction of anticipatory repudiation.
  104. 34.1-2-612. "Installment contract"; breach.
  105. 34.1-2-613. Casualty to identified goods.
  106. 34.1-2-614. Substituted performance.
  107. 34.1-2-615. Excuse by failure of presupposed conditions.
  108. 34.1-2-616. Procedure on notice claiming excuse.
  109. 34.1-2-701. Remedies for breach of collateral contracts not impaired.
  110. 34.1-2-702. Seller's remedies on discovery of buyer's insolvency.
  111. 34.1-2-703. Seller's remedies in general.
  112. 34.1-2-704. Seller's right to identify goods to the
  113. 34.1-2-705. Seller's stoppage of delivery in transit or otherwise.
  114. 34.1-2-706. Seller's resale including contract for resale.
  115. 34.1-2-707. "Person in the position of a seller".
  116. 34.1-2-708. Seller's damages for nonacceptance or repudiation.
  117. 34.1-2-709. Action for the price.
  118. 34.1-2-710. Seller's incidental damages.
  119. 34.1-2-711. Buyer's remedies in general; buyer's security interest in rejected goods.
  120. 34.1-2-712. "Cover"; buyer's procurement of substitute goods.
  121. 34.1-2-713. Buyer's damages for nondelivery or repudiation.
  122. 34.1-2-714. Buyer's damages for breach in regard to accepted goods.
  123. 34.1-2-715. Buyer's incidental and consequential damages.
  124. 34.1-2-716. Buyer's right to specific performance or replevin.
  125. 34.1-2-717. Deduction of damages from the price.
  126. 34.1-2-718. Liquidation or limitation of damages; deposits.
  127. 34.1-2-719. Contractual modification or limitations of remedy.
  128. 34.1-2-720. Effect of "cancellation" or "rescission" on claims for antecedent breach.
  129. 34.1-2-721. Remedies for fraud.
  130. 34.1-2-722. Who can sue third parties for injury to goods.
  131. 34.1-2-723. Proof of market price: Time and place.
  132. 34.1-2-724. Admissibility of market quotations.
  133. 34.1-2-725. Statute of limitations in contracts for sale.
  134. 34.1-2.A-101. Short title.
  135. 34.1-2.A-102. Scope.
  136. 34.1-2.A-103. Definitions and index of definitions.
  137. 34.1-2.A-104. Leases subject to other law.
  138. 34.1-2.A-105. Territorial application of article to goods covered by certificate of title.
  139. 34.1-2.A-106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum.
  140. 34.1-2.A-107. Waiver or renunciation of claim or right after default.
  141. 34.1-2.A-108. Unconscionability.
  142. 34.1-2.A-109. Option to accelerate at will.
  143. 34.1-2.A-201. Statute of frauds.
  144. 34.1-2.A-202. Final written expression: parol or extrinsic evidence.
  145. 34.1-2.A-203. Seals inoperative.
  146. 34.1-2.A-204. Formation in general.
  147. 34.1-2.A-205. Firm offers.
  148. 34.1-2.A-206. Offer and acceptance in formation of lease contract.
  149. 34.1-2.A-207. Repealed by Laws 2015, ch. 124, § 3.
  150. 34.1-2.A-208. Modification, rescission and waiver.
  151. 34.1-2.A-209. Lessee under finance lease as beneficiary of supply contract.
  152. 34.1-2.A-210. Express warranties.
  153. 34.1-2.A-211. Warranties against interference and against infringement; lessee's obligation against infringement.
  154. 34.1-2.A-212. Implied warranty of merchantability.
  155. 34.1-2.A-213. Implied warranty of fitness for particular purpose.
  156. 34.1-2.A-214. Exclusion or modification of warranties.
  157. 34.1-2.A-215. Cumulation and conflict of warranties express or implied.
  158. 34.1-2.A-216. Third-party beneficiaries of express and implied warranties.
  159. 34.1-2.A-217. Identification.
  160. 34.1-2.A-218. Insurance and proceeds.
  161. 34.1-2.A-219. Risk of loss.
  162. 34.1-2.A-220. Effect of default on risk of loss.
  163. 34.1-2.A-221. Casualty to identified goods.
  164. 34.1-2.A-301. Enforceability of lease contract.
  165. 34.1-2.A-302. Title to and possession of goods.
  166. 34.1-2.A-303. Alienability of party's interest under lease
  167. 34.1-2.A-304. Subsequent lease of goods by lessor.
  168. 34.1-2.A-305. Sale or sublease of goods by lessee.
  169. 34.1-2.A-306. Priority of certain liens arising by operation of law.
  170. 34.1-2.A-307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
  171. 34.1-2.A-308. Special rights of creditors.
  172. 34.1-2.A-309. Lessor's and lessee's rights when goods become fixtures.
  173. 34.1-2.A-310. Lessor's and lessee's rights when goods become accessions.
  174. 34.1-2.A-311. Priority subject to subordination.
  175. 34.1-2.A-401. Insecurity: adequate assurance of performance.
  176. 34.1-2.A-402. Anticipatory repudiation.
  177. 34.1-2.A-403. Retraction of anticipatory repudiation.
  178. 34.1-2.A-404. Substituted performance.
  179. 34.1-2.A-405. Excused performance.
  180. 34.1-2.A-406. Procedure on excused performance.
  181. 34.1-2.A-407. Irrevocable promises: finance leases.
  182. 34.1-2.A-501. Default: procedure.
  183. 34.1-2.A-502. Notice after default.
  184. 34.1-2.A-503. Modification or impairment of rights and remedies.
  185. 34.1-2.A-504. Liquidation of damages.
  186. 34.1-2.A-505. Cancellation and termination and effect of
  187. 34.1-2.A-506. Statute of limitations.
  188. 34.1-2.A-507. Proof of market rent: time and place.
  189. 34.1-2.A-508. Lessee's remedies.
  190. 34.1-2.A-509. Lessee's rights on improper delivery; rightful rejection.
  191. 34.1-2.A-510. Installment lease contracts: rejection and default.
  192. 34.1-2.A-511. Merchant lessee's duties as to rightfully rejected goods.
  193. 34.1-2.A-512. Lessee's duties as to rightfully rejected goods.
  194. 34.1-2.A-513. Cure by lessor of improper tender or delivery; replacement.
  195. 34.1-2.A-514. Waiver of lessee's objections.
  196. 34.1-2.A-515. Acceptance of goods.
  197. 34.1-2.A-516. Effect of acceptance of goods; notice of
  198. 34.1-2.A-517. Revocation of acceptance of goods.
  199. 34.1-2.A-518. Cover; substitute goods.
  200. 34.1-2.A-519. Lessee's damages for non-delivery,
  201. 34.1-2.A-520. Lessee's incidental and consequential damages.
  202. 34.1-2.A-521. Lessee's right to specific performance or replevin.
  203. 34.1-2.A-522. Lessee's right to goods on lessor's insolvency.
  204. 34.1-2.A-523. Lessor's remedies.
  205. 34.1-2.A-524. Lessor's right to identify goods to lease contract.
  206. 34.1-2.A-525. Lessor's right to possession of goods.
  207. 34.1-2.A-526. Lessor's stoppage of delivery in transit or otherwise.
  208. 34.1-2.A-527. Lessor's rights to dispose of goods.
  209. 34.1-2.A-528. Lessor's damages for non-acceptance, failure to pay, repudiation, or other default.
  210. 34.1-2.A-529. Lessor's action for the rent.
  211. 34.1-2.A-530. Lessor's incidental damages.
  212. 34.1-2.A-531. Standing to sue third parties for injury to goods.
  213. 34.1-2.A-532. Lessor's rights to residual interest.
  214. 34.1-3-101. Short title.
  215. 34.1-3-102. Subject matter.
  216. 34.1-3-103. Definitions.
  217. 34.1-3-104. Negotiable instrument.
  218. 34.1-3-105. Issue of instrument.
  219. 34.1-3-106. Unconditional promise or order.
  220. 34.1-3-107. Instrument payable in foreign money.
  221. 34.1-3-108. Payable on demand or at definite time.
  222. 34.1-3-109. Payable to bearer or to order.
  223. 34.1-3-110. Identification of person to whom instrument is payable.
  224. 34.1-3-111. Place of payment.
  225. 34.1-3-112. Interest.
  226. 34.1-3-113. Date of instrument.
  227. 34.1-3-114. Contradictory terms of instrument.
  228. 34.1-3-115. Incomplete instrument.
  229. 34.1-3-116. Joint and several liability; contribution.
  230. 34.1-3-117. Other agreements affecting instrument.
  231. 34.1-3-118. Statute of limitations.
  232. 34.1-3-119. Notice of right to defend action.
  233. 34.1-3-201. Negotiation.
  234. 34.1-3-202. Negotiation subject to rescission.
  235. 34.1-3-203. Transfer of instrument; rights acquired by transfer.
  236. 34.1-3-204. Indorsement.
  237. 34.1-3-205. Special indorsement; blank indorsement; anomalous indorsement.
  238. 34.1-3-206. Restrictive indorsement.
  239. 34.1-3-207. Reacquisition.
  240. 34.1-3-301. Person entitled to enforce instrument.
  241. 34.1-3-302. Holder in due course.
  242. 34.1-3-303. Value and consideration.
  243. 34.1-3-304. Overdue instrument.
  244. 34.1-3-305. Defenses and claims in recoupment.
  245. 34.1-3-306. Claims to an instrument.
  246. 34.1-3-307. Notice of breach of fiduciary duty.
  247. 34.1-3-308. Proof of signatures and status as holder in due course.
  248. 34.1-3-309. Enforcement of lost, destroyed, or stolen instrument.
  249. 34.1-3-310. Effect of instrument on obligation for which taken.
  250. 34.1-3-311. Accord and satisfaction by use of instrument.
  251. 34.1-3-312. Lost, destroyed or stolen cashier's check, teller's check or certified check.
  252. 34.1-3-401. Signature.
  253. 34.1-3-402. Signature by representative.
  254. 34.1-3-403. Unauthorized signature.
  255. 34.1-3-404. Impostors; fictitious payees.
  256. 34.1-3-405. Employer's responsibility for fraudulent indorsement by employee.
  257. 34.1-3-406. Negligence contributing to forged signature or alteration of instrument.
  258. 34.1-3-407. Alteration.
  259. 34.1-3-408. Drawee not liable on unaccepted draft.
  260. 34.1-3-409. Acceptance of draft; certified check.
  261. 34.1-3-410. Acceptance varying draft.
  262. 34.1-3-411. Refusal to pay cashier's checks, teller's checks, and certified checks.
  263. 34.1-3-412. Obligation of issuer of note or cashier's check.
  264. 34.1-3-413. Obligation of acceptor.
  265. 34.1-3-414. Obligation of drawer.
  266. 34.1-3-415. Obligation of indorser.
  267. 34.1-3-416. Transfer warranties.
  268. 34.1-3-417. Presentment warranties.
  269. 34.1-3-418. Payment or acceptance by mistake.
  270. 34.1-3-419. Instruments signed for accommodation.
  271. 34.1-3-420. Conversion of instrument.
  272. 34.1-3-501. Presentment.
  273. 34.1-3-502. Dishonor.
  274. 34.1-3-503. Notice of dishonor.
  275. 34.1-3-504. Excused presentment and notice of dishonor.
  276. 34.1-3-505. Evidence of dishonor.
  277. 34.1-3-601. Discharge and effect of discharge.
  278. 34.1-3-602. Payment.
  279. 34.1-3-603. Tender of payment.
  280. 34.1-3-604. Discharge by cancellation or renunciation.
  281. 34.1-3-605. Discharge of indorsers and accommodation parties.
  282. 34.1-3-701. Repealed by Laws 1991, ch. 160, § 4.
  283. 34.1-3-801. Repealed by Laws 1991, ch. 160, § 4.
  284. 34.1-3-802. Repealed by Laws 1991, ch. 160, § 4.
  285. 34.1-3-803. Repealed by Laws 1991, ch. 160, § 4.
  286. 34.1-3-804. Repealed by Laws 1991, ch. 160, § 4.
  287. 34.1-3-805. Repealed by Laws 1991, ch. 160, § 4.
  288. 34.1-3-901. Deposited instrument.
  289. 34.1-3-902. Variation of commercial paper provisions by agreement.
  290. 34.1-3-903. Transfer or pledge within a central depository system.
  291. 34.1-3-904. Presentment, dishonor, payment, or other activities within a central depository system.
  292. 34.1-3-905. Clearing corporation entitled to holder in due course status.
  293. 34.1-4-101. Short title.
  294. 34.1-4-102. Applicability.
  295. 34.1-4-103. Variation by agreement; measure of damages; action constituting ordinary care.
  296. 34.1-4-104. Definitions and index of definitions.
  297. 34.1-4-105. "Bank"; "depositary bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank".
  298. 34.1-4-106. Payable through or payable at bank; collecting bank.
  299. 34.1-4-107. Separate office of bank.
  300. 34.1-4-108. Time of receipt of items.
  301. 34.1-4-109. Delays.
  302. 34.1-4-110. Electronic presentment.
  303. 34.1-4-111. Statute of limitations.
  304. 34.1-4-201. Status of collecting bank as agent and
  305. 34.1-4-202. Responsibility for collection or return; when action timely.
  306. 34.1-4-203. Effect of instructions.
  307. 34.1-4-204. Methods of sending and presenting; sending directly to payor bank.
  308. 34.1-4-205. Depositary bank holder of unindorsed item.
  309. 34.1-4-206. Transfer between banks.
  310. 34.1-4-207. Transfer warranties.
  311. 34.1-4-208. Presentment warranties.
  312. 34.1-4-209. Encoding and retention warranties.
  313. 34.1-4-210. Security interest of collecting bank in items accompanying documents and proceeds.
  314. 34.1-4-211. When bank gives value for purposes of holder in due course.
  315. 34.1-4-212. Presentment by notice of item not payable by, through, or at a bank; liability of drawer or indorser.
  316. 34.1-4-213. Medium and time of settlement by bank.
  317. 34.1-4-214. Right of charge-back or refund; liability of collecting bank; return of item.
  318. 34.1-4-215. Final payment of item by payor bank; when
  319. 34.1-4-216. Insolvency and preference.
  320. 34.1-4-301. Deferred posting; recovery of payment by
  321. 34.1-4-302. Payor bank's responsibility for late return of item.
  322. 34.1-4-303. When items subject to notice, stop-payment
  323. 34.1-4-401. When bank may charge customer's account.
  324. 34.1-4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
  325. 34.1-4-403. Customer's right to stop payment; burden of proof of loss.
  326. 34.1-4-404. Bank not obligated to pay check more than six months old.
  327. 34.1-4-405. Death or incompetence of customer.
  328. 34.1-4-406. Customer's duty to discover and report unauthorized signature or alteration.
  329. 34.1-4-407. Payor bank's right to subrogation on improper payment.
  330. 34.1-4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
  331. 34.1-4-502. Presentment of "on arrival" drafts.
  332. 34.1-4-503. Responsibility of presenting bank for
  333. 34.1-4-504. Privilege of presenting bank to deal with goods; security interest for expenses.
  334. 34.1-4.A-101. Short title.
  335. 34.1-4.A-102. Subject matter.
  336. 34.1-4.A-103. Payment order-definitions.
  337. 34.1-4.A-104. Funds transfer-definitions.
  338. 34.1-4.A-105. Other definitions.
  339. 34.1-4.A-106. Time payment order is received.
  340. 34.1-4.A-107. Federal reserve regulations and operating circulars.
  341. 34.1-4.A-108. Exclusion of consumer transactions governed by federal law.
  342. 34.1-4.A-201. Security procedure.
  343. 34.1-4.A-202. Authorized and verified payment orders.
  344. 34.1-4.A-203. Unenforceability of certain verified payment orders.
  345. 34.1-4.A-204. Refund of payment and duty of customer to report with respect to unauthorized payment order.
  346. 34.1-4.A-205. Erroneous payment orders.
  347. 34.1-4.A-206. Transmission of payment order through funds-transfer or other communication system.
  348. 34.1-4.A-207. Misdescription of beneficiary.
  349. 34.1-4.A-208. Misdescription of intermediary bank or beneficiary's bank.
  350. 34.1-4.A-209. Acceptance of payment order.
  351. 34.1-4.A-210. Rejection of payment order.
  352. 34.1-4.A-211. Cancellation and amendment of payment order.
  353. 34.1-4.A-212. Liability and duty of receiving bank regarding unaccepted payment order.
  354. 34.1-4.A-301. Execution and execution date.
  355. 34.1-4.A-302. Obligations of receiving bank in execution of payment order.
  356. 34.1-4.A-303. Erroneous execution of payment order.
  357. 34.1-4.A-304. Duty of sender to report erroneously executed payment order.
  358. 34.1-4.A-305. Liability for late or improper execution or failure to execute payment order.
  359. 34.1-4.A-401. Payment date.
  360. 34.1-4.A-402. Obligation of sender to pay receiving bank.
  361. 34.1-4.A-403. Payment by sender to receiving bank.
  362. 34.1-4.A-404. Obligation of beneficiary's bank to pay and give notice to beneficiary.
  363. 34.1-4.A-405. Payment by beneficiary's bank to beneficiary.
  364. 34.1-4.A-406. Payment by originator to beneficiary; discharge of underlying obligation.
  365. 34.1-4.A-501. Variation by agreement and effect of funds-transfer system rule.
  366. 34.1-4.A-502. Creditor process served on receiving bank; setoff by beneficiary's bank.
  367. 34.1-4.A-503. Injunction or restraining order with respect to funds transfer.
  368. 34.1-4.A-504. Order in which items and payment orders may be charged to account; order of withdrawals from account.
  369. 34.1-4.A-505. Preclusion of objection to debit of customer's account.
  370. 34.1-4.A-506. Rate of interest.
  371. 34.1-4.A-507. Choice of law.
  372. 34.1-5-101. Short title.
  373. 34.1-5-102. Definitions.
  374. 34.1-5-103. Scope.
  375. 34.1-5-104. Formal requirements.
  376. 34.1-5-105. Consideration.
  377. 34.1-5-106. Issuance, amendment, cancellation, and duration.
  378. 34.1-5-107. Confirmer, nominated person, and adviser.
  379. 34.1-5-108. Issuer's rights and obligations.
  380. 34.1-5-109. Fraud and forgery.
  381. 34.1-5-110. Warranties.
  382. 34.1-5-111. Remedies.
  383. 34.1-5-112. Transfer of letter of credit.
  384. 34.1-5-113. Transfer by operation of law.
  385. 34.1-5-114. Assignment of proceeds.
  386. 34.1-5-115. Statute of limitations.
  387. 34.1-5-116. Choice of law and forum.
  388. 34.1-5-117. Subrogation of issuer, applicant, and nominated person.
  389. 34.1-5-118. Security interest of issuer or nominated person.
  390. 34.1-6-101. Repealed by Laws 1991, ch. 177, § 2.
  391. 34.1-6-102. Repealed by Laws 1991, ch. 177, § 2.
  392. 34.1-6-103. Repealed by Laws 1991, ch. 177, § 2.
  393. 34.1-6-104. Repealed by Laws 1991, ch. 177, § 2.
  394. 34.1-6-105. Repealed by Laws 1991, ch. 177, § 2.
  395. 34.1-6-106. Reserved.
  396. 34.1-6-107. Repealed by Laws 1991, ch. 177, § 2.
  397. 34.1-6-108. Repealed by Laws 1991, ch. 177, § 2.
  398. 34.1-6-109. Repealed by Laws 1991, ch. 177, § 2.
  399. 34.1-6-110. Repealed by Laws 1991, ch. 177, § 2.
  400. 34.1-6-111. Repealed by Laws 1991, ch. 177, § 2.
  401. 34.1-7-101. Short title.
  402. 34.1-7-102. Definitions and index of definitions.
  403. 34.1-7-103. Relation of article to treaty or statute.
  404. 34.1-7-104. Negotiable and nonnegotiable documents of title.
  405. 34.1-7-105. Reissuance in alternative medium.
  406. 34.1-7-106. Control of electronic document of title.
  407. 34.1-7-201. Person that may issue a warehouse receipt; storage under bond.
  408. 34.1-7-202. Form of warehouse receipt; effect of omission.
  409. 34.1-7-203. Liability for nonreceipt or misdescription.
  410. 34.1-7-204. Duty of care; contractual limitation of warehouse's liability.
  411. 34.1-7-205. Title under warehouse receipt defeated in certain cases.
  412. 34.1-7-206. Termination of storage at warehouse's option.
  413. 34.1-7-207. Goods must be kept separate; fungible goods.
  414. 34.1-7-208. Altered warehouse receipts.
  415. 34.1-7-209. Lien of warehouse.
  416. 34.1-7-210. Enforcement of warehouse's lien.
  417. 34.1-7-301. Liability for nonreceipt or misdescription;
  418. 34.1-7-302. Through bills of lading and similar documents of title.
  419. 34.1-7-303. Diversion; reconsignment; change of instructions.
  420. 34.1-7-304. Tangible bills of lading in a set.
  421. 34.1-7-305. Destination bills.
  422. 34.1-7-306. Altered bills of lading.
  423. 34.1-7-307. Lien of carrier.
  424. 34.1-7-308. Enforcement of carrier's lien.
  425. 34.1-7-309. Duty of care; contractual limitation of carrier's liability.
  426. 34.1-7-401. Irregularities in issue of receipt or bill or conduct of issuer.
  427. 34.1-7-402. Duplicate document of title; overissue.
  428. 34.1-7-403. Obligation of bailee to deliver; excuse.
  429. 34.1-7-404. No liability for good faith delivery pursuant to document of title.
  430. 34.1-7-501. Form of negotiation and requirements of due negotiation.
  431. 34.1-7-502. Rights acquired by due negotiation.
  432. 34.1-7-503. Document of title to goods defeated in certain cases.
  433. 34.1-7-504. Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery.
  434. 34.1-7-505. Endorser not guarantor for other parties.
  435. 34.1-7-506. Delivery without endorsement: right to compel endorsement.
  436. 34.1-7-507. Warranties on negotiation or delivery of document of title.
  437. 34.1-7-508. Warranties of collecting bank as to documents of title.
  438. 34.1-7-509. Adequate compliance with commercial contract.
  439. 34.1-7-601. Lost, stolen, or destroyed documents of title.
  440. 34.1-7-602. Judicial process against goods covered by negotiable document of title.
  441. 34.1-7-603. Conflicting claims; interpleader.
  442. 34.1-7-701. Effective date.
  443. 34.1-7-702. Repeals.
  444. 34.1-7-703. Applicability.
  445. 34.1-7-704. Savings clause.
  446. 34.1-8-101. Short title.
  447. 34.1-8-102. Definitions.
  448. 34.1-8-103. Rules for determining whether certain
  449. 34.1-8-104. Acquisition of security or financial asset or interest therein.
  450. 34.1-8-105. Notice of adverse claim.
  451. 34.1-8-106. Control.
  452. 34.1-8-107. Whether indorsement, instruction, or entitlement order is effective.
  453. 34.1-8-108. Warranties in direct holding.
  454. 34.1-8-109. Warranties in indirect holding.
  455. 34.1-8-110. Applicability; choice of law.
  456. 34.1-8-111. Clearing corporation rules.
  457. 34.1-8-112. Creditor's legal process.
  458. 34.1-8-113. Statute of frauds inapplicable.
  459. 34.1-8-114. Evidentiary rules concerning certificated securities.
  460. 34.1-8-115. Securities intermediary and others not liable to adverse claimant.
  461. 34.1-8-116. Securities intermediary as purchaser for value.
  462. 34.1-8-201. Issuer.
  463. 34.1-8-202. Issuer's responsibility and defenses; notice of defect or defense.
  464. 34.1-8-203. Staleness as notice of defect or defense.
  465. 34.1-8-204. Effect of issuer's restriction on transfer.
  466. 34.1-8-205. Effect of unauthorized signature on security certificate.
  467. 34.1-8-206. Completion or alteration of security certificate.
  468. 34.1-8-207. Rights and duties of issuer with respect to registered owners.
  469. 34.1-8-208. Effect of signature of authenticating trustee, registrar, or transfer agent.
  470. 34.1-8-209. Issuer's lien.
  471. 34.1-8-210. Overissue.
  472. 34.1-8-301. Delivery.
  473. 34.1-8-302. Rights of purchaser.
  474. 34.1-8-303. Protected purchaser.
  475. 34.1-8-304. Indorsement.
  476. 34.1-8-305. Instruction.
  477. 34.1-8-306. Effect of guaranteeing signature, indorsement, or instruction.
  478. 34.1-8-307. Purchaser's right to requisites for registration of transfer.
  479. 34.1-8-401. Duty of issuer to register transfer.
  480. 34.1-8-402. Assurance that indorsement or instruction is effective.
  481. 34.1-8-403. Demand that issuer not register transfer.
  482. 34.1-8-404. Wrongful registration.
  483. 34.1-8-405. Replacement of lost, destroyed, or wrongfully taken security certificate.
  484. 34.1-8-406. Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate.
  485. 34.1-8-407. Authenticating trustee, transfer agent, and registrar.
  486. 34.1-8-501. Securities account; acquisition of security entitlement from securities intermediary.
  487. 34.1-8-502. Assertion of adverse claim against entitlement holder.
  488. 34.1-8-503. Property interest of entitlement holder in financial asset held by securities intermediary.
  489. 34.1-8-504. Duty of securities intermediary to maintain financial asset.
  490. 34.1-8-505. Duty of securities intermediary with respect to payments and distributions.
  491. 34.1-8-506. Duty of securities intermediary to exercise rights as directed by entitlement holder.
  492. 34.1-8-507. Duty of securities intermediary to comply with entitlement order.
  493. 34.1-8-508. Duty of securities intermediary to change
  494. 34.1-8-509. Specification of duties of securities
  495. 34.1-8-510. Rights of purchaser of security entitlement from entitlement holder.
  496. 34.1-8-511. Priority among security interests and entitlement holders.
  497. 34.1-8-601. Effective date.
  498. 34.1-8-602. Repeals.
  499. 34.1-8-603. Savings clause.
  500. 34.1-9-101. Short title.
  501. 34.1-9-102. Definitions and index of definitions.
  502. 34.1-9-103. Purchase-money security interest; application of payments; burden of establishing.
  503. 34.1-9-104. Control of deposit account.
  504. 34.1-9-105. Control of electronic chattel paper.
  505. 34.1-9-106. Control of investment property.
  506. 34.1-9-107. Control of letter-of-credit right.
  507. 34.1-9-108. Sufficiency of description.
  508. 34.1-9-109. Scope.
  509. 34.1-9-110. Security interests arising under article 2 or 2A.
  510. 34.1-9-201. General effectiveness of security agreement.
  511. 34.1-9-202. Title to collateral immaterial.
  512. 34.1-9-203. Attachment and enforceability of security
  513. 34.1-9-204. After-acquired property; future advances.
  514. 34.1-9-205. Use or disposition of collateral permissible.
  515. 34.1-9-206. Security interest arising in purchase or delivery of financial asset.
  516. 34.1-9-207. Rights and duties of secured party having possession or control of collateral.
  517. 34.1-9-208. Additional duties of secured party having control of collateral.
  518. 34.1-9-209. Duties of secured party if account debtor has been notified of assignment.
  519. 34.1-9-210. Request for accounting; request regarding list of collateral or statement of account.
  520. 34.1-9-301. Law governing perfection and priority of security interests.
  521. 34.1-9-302. Law governing perfection and priority of agricultural liens.
  522. 34.1-9-303. Law governing perfection and priority of
  523. 34.1-9-304. Law governing perfection and priority of security interests in deposit accounts.
  524. 34.1-9-305. Law governing perfection and priority of security interests in investment property.
  525. 34.1-9-306. Law governing perfection and priority of security interests in letter-of-credit rights.
  526. 34.1-9-307. Location of debtor.
  527. 34.1-9-308. When security interest or agricultural lien is perfected; continuity of perfection.
  528. 34.1-9-309. Security interest perfected upon attachment.
  529. 34.1-9-310. When filing required to perfect security
  530. 34.1-9-311. Perfection of security interests in property subject to certain statutes, regulations and treaties.
  531. 34.1-9-312. Perfection of security interests in chattel
  532. 34.1-9-313. When possession by or delivery to secured party perfects security interest without filing.
  533. 34.1-9-314. Perfection by control.
  534. 34.1-9-315. Secured party's rights on disposition of collateral and in proceeds.
  535. 34.1-9-316. Effect of change in governing law.
  536. 34.1-9-317. Interests that take priority over or take free of security interest or agricultural lien.
  537. 34.1-9-318. No interest retained in right to payment that
  538. 34.1-9-319. Rights and title of consignee with respect to creditors and purchasers.
  539. 34.1-9-320. Buyer of goods.
  540. 34.1-9-321. Licensee of general intangible and lessee of goods in ordinary course of business.
  541. 34.1-9-322. Priorities among conflicting security interests in and agricultural liens on same collateral.
  542. 34.1-9-323. Future advances.
  543. 34.1-9-324. Priority of purchase-money security interests.
  544. 34.1-9-325. Priority of security interests in transferred collateral.
  545. 34.1-9-326. Priority of security interests created by new debtor.
  546. 34.1-9-327. Priority of security interests in deposit account.
  547. 34.1-9-328. Priority of security interests in investment property.
  548. 34.1-9-329. Priority of security interests in letter-of-credit right.
  549. 34.1-9-330. Priority of purchaser of chattel paper or instrument.
  550. 34.1-9-331. Priority of rights of purchasers of
  551. 34.1-9-332. Transfer of money; transfer of funds from deposit account.
  552. 34.1-9-333. Priority of certain liens arising by operation of law.
  553. 34.1-9-334. Priority of security interests in fixtures and crops.
  554. 34.1-9-335. Accessions.
  555. 34.1-9-336. Commingled goods.
  556. 34.1-9-337. Priority of security interests in goods covered by certificate of title.
  557. 34.1-9-338. Priority of security interest or agricultural
  558. 34.1-9-339. Priority subject to subordination.
  559. 34.1-9-340. Effectiveness of right of recoupment or set-off against deposit account.
  560. 34.1-9-341. Bank's rights and duties with respect to deposit account.
  561. 34.1-9-342. Bank's right to refuse to enter into or disclose existence of control agreement.
  562. 34.1-9-401. Alienability of debtor's rights.
  563. 34.1-9-402. Secured party not obligated on contract of debtor or in tort.
  564. 34.1-9-403. Agreement not to assert defenses against assignee.
  565. 34.1-9-404. Rights acquired by assignee; claims and defenses against assignee.
  566. 34.1-9-405. Modification of assigned contract.
  567. 34.1-9-406. Discharge of account debtor; notification of
  568. 34.1-9-407. Restrictions on creation or enforcement of
  569. 34.1-9-408. Restrictions on assignment of promissory
  570. 34.1-9-409. Restrictions on assignment of letter-of-credit rights ineffective.
  571. 34.1-9-501. Filing office.
  572. 34.1-9-502. Contents of financing statement; record of
  573. 34.1-9-503. Name of debtor and secured party.
  574. 34.1-9-504. Indication of collateral.
  575. 34.1-9-505. Filing and compliance with other statutes and
  576. 34.1-9-506. Effect of errors or omissions.
  577. 34.1-9-507. Effect of certain events on effectiveness of financing statement.
  578. 34.1-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement.
  579. 34.1-9-509. Persons entitled to file a record.
  580. 34.1-9-510. Effectiveness of filed record.
  581. 34.1-9-511. Secured party of record.
  582. 34.1-9-512. Amendment of financing statement.
  583. 34.1-9-513. Termination statement.
  584. 34.1-9-514. Assignment of powers of secured party of record.
  585. 34.1-9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement.
  586. 34.1-9-516. What constitutes filing; effectiveness of filing.
  587. 34.1-9-517. Effect of indexing errors.
  588. 34.1-9-518. Claim concerning inaccurate or wrongfully filed record.
  589. 34.1-9-519. Numbering, maintaining, and indexing records; communicating information provided in records.
  590. 34.1-9-520. Acceptance and refusal to accept record.
  591. 34.1-9-521. Uniform form of written financing statement and amendment.
  592. 34.1-9-522. Maintenance and destruction of records.
  593. 34.1-9-523. Information from filing office; sale or license of records.
  594. 34.1-9-524. Delay by filing office.
  595. 34.1-9-525. Fees.
  596. 34.1-9-526. Filing-office rules.
  597. 34.1-9-527. Repealed By Laws 2008, Ch. 44, § 2.
  598. 34.1-9-601. Rights after default; judicial enforcement;
  599. 34.1-9-602. Waiver and variance of rights and duties.
  600. 34.1-9-603. Agreement on standards concerning rights and duties.
  601. 34.1-9-604. Procedure if security agreement covers real property or fixtures.
  602. 34.1-9-605. Unknown debtor or secondary obligor.
  603. 34.1-9-606. Time of default for agricultural lien.
  604. 34.1-9-607. Collection and enforcement by secured party.
  605. 34.1-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
  606. 34.1-9-609. Secured party's right to take possession after default.
  607. 34.1-9-610. Disposition of collateral after default.
  608. 34.1-9-611. Notification before disposition of collateral.
  609. 34.1-9-612. Timeliness of notification before disposition of collateral.
  610. 34.1-9-613. Contents and form of notification before disposition of collateral: general.
  611. 34.1-9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction.
  612. 34.1-9-615. Application of proceeds of disposition; liability for deficiency and right to surplus.
  613. 34.1-9-616. Explanation of calculation of surplus or deficiency.
  614. 34.1-9-617. Rights of transferee of collateral.
  615. 34.1-9-618. Rights and duties of certain secondary obligors.
  616. 34.1-9-619. Transfer of record or legal title.
  617. 34.1-9-620. Acceptance of collateral in full or partial
  618. 34.1-9-621. Notification of proposal to accept collateral.
  619. 34.1-9-622. Effect of acceptance of collateral.
  620. 34.1-9-623. Right to redeem collateral.
  621. 34.1-9-624. Waiver.
  622. 34.1-9-625. Remedies for secured party's failure to comply with article.
  623. 34.1-9-626. Action in which deficiency or surplus is in issue.
  624. 34.1-9-627. Determination of whether conduct was commercially reasonable.
  625. 34.1-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.
  626. 34.1-9-701. Effective date.
  627. 34.1-9-702. Savings clause.
  628. 34.1-9-703. Security interest perfected before effective date.
  629. 34.1-9-704. Security interest unperfected before effective date.
  630. 34.1-9-705. Effectiveness of action taken before effective date.
  631. 34.1-9-706. When initial financing statement suffices to continue effectiveness of financing statement.
  632. 34.1-9-707. Amendment of preeffective date financing statement.
  633. 34.1-9-708. Persons entitled to file initial financing statement or continuation statement.
  634. 34.1-9-709. Priority.
  635. 34.1-9-801. Effective date of amendments.
  636. 34.1-9-802. Savings clause.
  637. 34.1-9-803. Security interest perfected before July 1, 2013.
  638. 34.1-9-804. Security interest unperfected before July 1, 2013.
  639. 34.1-9-805. Effectiveness of action taken before July 1, 2013.
  640. 34.1-9-806. When initial financing statement suffices to continue effectiveness of financing statement.
  641. 34.1-9-807. Amendment of pre-effective-date financing statement.
  642. 34.1-9-808. Person entitled to file initial financing statement or continuation statement.
  643. 34.1-9-809. Priority.
  644. 34.1-10-101. Effective date.
  645. 34.1-10-102. Provision for transition.
  646. 34.1-10-103. Reserved.
  647. 34.1-10-104. Repealed by Laws 2015, ch. 124, § 6.

Proposed changes to this act

No one has proposed a change to this act yet.

647 provisions

34.1-9-342. Bank's right to refuse to enter into or disclose existence of control agreement.

This article does not require a bank to enter into an agreement of the kind described in section 34.1-9-104(a)(ii), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer. Rights of Third Parties

Propose a change

34.1-9-401. Alienability of debtor's rights.

(a) Except as otherwise provided in subsection (b) and sections 34.1-9-406, 34.1-9-407, 34.1-9-408 and 34.1-9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article. (b) An agreement between the debtor and secured party which prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.

Propose a change

34.1-9-402. Secured party not obligated on contract of debtor or in tort.

The existence of a security interest, agricultural lien or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.

Propose a change

34.1-9-403. Agreement not to assert defenses against assignee.

(a) In this section, "value" has the meaning provided in section 34.1-3-303(a). (b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by an assignee that takes an assignment: (i) For value; (ii) In good faith; (iii) Without notice of a claim of a property or possessory right to the property assigned; and (iv) Without notice of a defense or claim in recoupment of the type that may be asserted against a person entitled to enforce a negotiable instrument under section 34.1-3-305(a). (c) Subsection (b) does not apply to defenses of a type that may be asserted against a holder in due course of a negotiable instrument under section 34.1-3-305(b). (d) In a consumer transaction, if a record evidences the account debtor's obligation, law other than this article requires that the record include a statement to the effect that the rights of an assignee are subject to claims or defenses that the account debtor could assert against the original obligee, and the record does not include such a statement: (i) The record has the same effect as if the record included such a statement; and (ii) The account debtor may assert against an assignee those claims and defenses that would have been available if the record included such a statement. (e) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family or household purposes. (f) Except as otherwise provided in subsection (d), this section does not displace law other than this article which gives effect to an agreement by an account debtor not to assert a claim or defense against an assignee.

Propose a change

34.1-9-404. Rights acquired by assignee; claims and defenses against assignee.

(a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e), the rights of an assignee are subject to: (i) All terms of the agreement between the account debtor and assignor and any defense or claim in recoupment arising from the transaction that gave rise to the contract; and (ii) Any other defense or claim of the account debtor against the assignor which accrues before the account debtor receives a notification of the assignment authenticated by the assignor or the assignee. (b) Subject to subsection (c) and except as otherwise provided in subsection (d), the claim of an account debtor against an assignor may be asserted against an assignee under subsection (a) only to reduce the amount the account debtor owes. (c) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family or household purposes. (d) In a consumer transaction, if a record evidences the account debtor's obligation, law other than this article requires that the record include a statement to the effect that the account debtor's recovery against an assignee with respect to claims and defenses against the assignor may not exceed amounts paid by the account debtor under the record, and the record does not include such a statement, the extent to which a claim of an account debtor against the assignor may be asserted against an assignee is determined as if the record included such a statement. (e) This section does not apply to an assignment of a health-care-insurance receivable.

Propose a change

34.1-9-405. Modification of assigned contract.

(a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection is subject to subsections (b) through (d). (b) Subsection (a) applies to the extent that: (i) The right to payment or a part thereof under an assigned contract has not been fully earned by performance; or (ii) The right to payment or a part thereof has been fully earned by performance and the account debtor has not received notification of the assignment under section 34.1-9-406(a). (c) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family or household purposes. (d) This section does not apply to an assignment of a health-care-insurance receivable.

Propose a change

34.1-9-406. Discharge of account debtor; notification of

assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective. (a) Subject to subsections (b) through (j), an account debtor on an account, chattel paper or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, authenticated by the assignor or the assignee, that the amount due or to become due has been assigned and that payment is to be made to the assignee. After receipt of the notification, the account debtor may discharge its obligation by paying the assignee and may not discharge the obligation by paying the assignor. (b) Subject to subsection (h), notification is ineffective under subsection (a): (i) If it does not reasonably identify the rights assigned; (ii) To the extent that an agreement between an account debtor and a seller of a payment intangible limits the account debtor's duty to pay a person other than the seller and the limitation is effective under law other than this article; or (iii) At the option of an account debtor, if the notification notifies the account debtor to make less than the full amount of any installment or other periodic payment to the assignee, even if: (A) Only a portion of the account, chattel paper or payment intangible has been assigned to that assignee; (B) A portion has been assigned to another assignee; or (C) The account debtor knows that the assignment to that assignee is limited. (c) Subject to subsection (h), if requested by the account debtor, an assignee shall seasonably furnish reasonable proof that the assignment has been made. Unless the assignee complies, the account debtor may discharge its obligation by paying the assignor, even if the account debtor has received a notification under subsection (a). (d) Except as otherwise provided in subsection (e) and sections 34.1-2A-303 and 34.1-9-407, and subject to subsection (h), a term in an agreement between an account debtor and an assignor or in a promissory note is ineffective to the extent that it: (i) Prohibits, restricts or requires the consent of the account debtor or person obligated on the promissory note to the assignment or transfer of, or the creation, attachment, perfection or enforcement of a security interest in, the account, chattel paper, payment intangible or promissory note; or (ii) Provides that the assignment or transfer or the creation, attachment, perfection or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination right of termination, or remedy under the account, chattel paper, payment intangible or promissory note. (e) Subsection (d) does not apply to the sale of a payment intangible or promissory note, other than a sale pursuant to a disposition under W.S. 34.1-9-610 or an acceptance of collateral under W.S. 34.1-9-620. (f) Except as otherwise provided in sections 34.1-2A-303 and 34.1-9-407 and subject to subsections (h) and (j), a rule of law, statute or regulation that prohibits, restricts or requires the consent of a government, governmental body or official or account debtor to the assignment or transfer of, or creation of a security interest in, an account or chattel paper is ineffective to the extent that the rule of law, statute or regulation: (i) Prohibits, restricts or requires the consent of the government, governmental body or official, or account debtor to the assignment or transfer of, or the creation, attachment, perfection or enforcement of a security interest in the account or chattel paper; or (ii) Provides that the assignment or transfer or the creation, attachment, perfection or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination or remedy under the account or chattel paper. (g) Subject to subsection (h), an account debtor may not waive or vary its option under paragraph (b)(iii). (h) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family or household purposes. (j) This section prevails over any inconsistent provision of an existing or future statute, rule or regulation of this state unless the provision is contained in a statute of this state, refers expressly to this section and states that the provision prevails over this section. Subsection (f) of this section does not apply to an assignment or transfer of, or the creation, attachment, perfection or enforcement of a security interest in, a right the transfer of which is prohibited or restricted by any of the following statutes to the extent that the statute is inconsistent with subsection (f) of this section: W.S. 1-40-113, 26-15-132 and 27-14-702. (k) Except to the extent otherwise provided in subsection (j), this section prevails over any inconsistent provision of an existing or future statute, rule or regulation of this state unless the provision is contained in a statute of this state, refers expressly to this section and states that the provision prevails over this section.

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34.1-9-407. Restrictions on creation or enforcement of

security interest in leasehold interest or in lessor's residual interest. (a) Except as otherwise provided in subsection (b), a term in a lease agreement is ineffective to the extent that it: (i) Prohibits, restricts or requires the consent of a party to the lease to the assignment or transfer of, or the creation, attachment, perfection or enforcement of a security interest in, an interest of a party under the lease contract or in the lessor's residual interest in the goods; or (ii) Provides that the assignment or transfer or the creation, attachment, perfection or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination or remedy under the lease. (b) Except as otherwise provided in section 34.1-2A-303(g), a term described in paragraph (a)(ii) is effective to the extent that there is: (i) A transfer by the lessee of the lessee's right of possession or use of the goods in violation of the term; or (ii) A delegation of a material performance of either party to the lease contract in violation of the term. (c) The creation, attachment, perfection or enforcement of a security interest in the lessor's interest under the lease contract or the lessor's residual interest in the goods is not a transfer that materially impairs the lessee's prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of section 34.1-2A-303(d) unless, and then only to the extent that, enforcement actually results in a delegation of material performance of the lessor.

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34.1-9-408. Restrictions on assignment of promissory

notes, health-care-insurance receivables and certain general intangibles ineffective. (a) Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or a general intangible, including a contract, permit, license or franchise, and which term prohibits, restricts or requires the consent of the person obligated on the promissory note or the account debtor to, the assignment or transfer of, or creation, attachment or perfection of a security interest in, the promissory note, health-care-insurance receivable or general intangible, is ineffective to the extent that the term: (i) Would impair the creation, attachment or perfection of a security interest; or (ii) Provides that the assignment or transfer or the creation, attachment or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination or remedy under the promissory note, health-care-insurance receivable or general intangible. (b) Subsection (a) applies to a security interest in a payment intangible or promissory note only if the security interest arises out of a sale of the payment intangible or promissory note, other than a sale pursuant to a disposition under W.S. 34.1-9-610 or an acceptance of collateral under W.S. 34.1-9-620. (c) A rule of law, statute or regulation that prohibits, restricts or requires the consent of a government, governmental body or official, person obligated on a promissory note, or account debtor to the assignment or transfer of, or creation of a security interest in, a promissory note, health-care-insurance receivable or general intangible including a contract, permit, license or franchise between an account debtor and a debtor, is ineffective to the extent that the rule of law, statute or regulation: (i) Would impair the creation, attachment or perfection of a security interest; or (ii) Provides that the assignment or transfer or the creation, attachment or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination or remedy under the promissory note, health-care-insurance receivable or general intangible. (d) To the extent that a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or general intangible or a rule of law, statute or regulation described in subsection (c) would be effective under law other than this article but is ineffective under subsection (a) or (c), the creation, attachment or perfection of a security interest in the promissory note, health-care-insurance receivable or general intangible: (i) Is not enforceable against the person obligated on the promissory note or the account debtor; (ii) Does not impose a duty or obligation on the person obligated on the promissory note or the account debtor; (iii) Does not require the person obligated on the promissory note or the account debtor to recognize the security interest, pay or render performance to the secured party, or accept payment or performance from the secured party; (iv) Does not entitle the secured party to use or assign the debtor's rights under the promissory note, health-care-insurance receivable or general intangible, including any related information or materials furnished to the debtor in the transaction giving rise to the promissory note, health-care-insurance receivable or general intangible; (v) Does not entitle the secured party to use, assign, possess or have access to any trade secrets or confidential information of the person obligated on the promissory note or the account debtor; and (vi) Does not entitle the secured party to enforce the security interest in the promissory note, health-care-insurance receivable or general intangible. (e) Except to the extent otherwise provided in subsection (f), this section prevails over any inconsistent provision of an existing or future statute, rule or regulation of this state unless the provision is contained in a statute of this state, refers expressly to this section and states that the provision prevails over this section. (f) Subsection (c) of this section does not apply to an assignment or transfer of, or the creation, attachment, perfection, or enforcement of a security interest in, a right the transfer of which is prohibited or restricted by any of the following statutes, to the extent that the statute is inconsistent with subsection (c) of this section: W.S. 1-40-113, 26-15-132 and 27-14-702.

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34.1-9-409. Restrictions on assignment of letter-of-credit rights ineffective.

(a) A term in a letter of credit or a rule of law, statute, regulation, custom or practice applicable to the letter of credit which prohibits, restricts or requires the consent of an applicant, issuer or nominated person to a beneficiary's assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, statute, regulation, custom or practice: (i) Would impair the creation, attachment or perfection of a security interest in the letter-of-credit right; or (ii) Provides that the assignment or the creation, attachment or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination or remedy under the letter-of-credit right. (b) To the extent that a term in a letter of credit is ineffective under subsection (a) but would be effective under law other than this article or a custom or practice applicable to the letter of credit, to the transfer of a right to draw or otherwise demand performance under the letter of credit or to the assignment of a right to proceeds of the letter of credit, the creation, attachment or perfection of a security interest in the letter-of-credit right: (i) Is not enforceable against the applicant, issuer, nominated person or transferee beneficiary; (ii) Imposes no duties or obligations on the applicant, issuer, nominated person or transferee beneficiary; and (iii) Does not require the applicant, issuer, nominated person or transferee beneficiary to recognize the security interest, pay or render performance to the secured party or accept payment or other performance from the secured party.

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34.1-9-501. Filing office.

(a) Except as otherwise provided in subsection (b), if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is: (i) The office designated for the filing or recording of a record of a mortgage on the related real property, if: (A) The collateral is as-extracted collateral or timber to be cut; or (B) The financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures; or (ii) The office of the secretary of state in all other cases, including a case in which the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing; or (iii) The office of the county clerk for perfection of a security interest in vehicles or motor vehicles. (b) The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of the secretary of state. The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement which is or is to become fixtures.

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34.1-9-502. Contents of financing statement; record of

mortgage as financing statement; time of filing financing statement. (a) Subject to subsection (b), a financing statement is sufficient only if it: (i) Provides the name of the debtor; (ii) Provides the name of the secured party or a representative of the secured party; and (iii) Indicates the collateral covered by the financing statement. (b) Except as otherwise provided in section 34.1-9-501(b), to be sufficient, a financing statement that covers as-extracted collateral or timber to be cut, or which is filed as a fixture filing and covers goods that are or are to become fixtures, must satisfy subsection (a) and also: (i) Indicate that it covers this type of collateral; (ii) Indicate that it is to be filed for record in the real property records; (iii) Provide a description of the real property to which the collateral is related sufficient to give constructive notice of a mortgage under the law of this state if the description were contained in a record of the mortgage of the real property; and (iv) If the debtor does not have an interest of record in the real property, provide the name of a record owner. (c) A record of a mortgage is effective, from the date of recording, as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut only if: (i) The record indicates the goods or accounts that it covers; (ii) The goods are or are to become fixtures related to the real property described in the record or the collateral is related to the real property described in the record and is as-extracted collateral or timber to be cut; (iii) The record satisfies the requirements for a financing statement in this section but: (A) The record need not indicate that it is to be filed in the real property records; and (B) The record sufficiently provides the name of a debtor who is an individual if it provides the individual name of the debtor or the surname and first personal name of the debtor, even if the debtor is an individual to whom W.S. 34.1-9-503(a)(iv) applies; and (iv) The record is duly recorded. (d) A financing statement may be filed before a security agreement is made or a security interest otherwise attaches.

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34.1-9-503. Name of debtor and secured party.

(a) A financing statement sufficiently provides the name of the debtor: (i) Except as otherwise provided in paragraph (iii) of this subsection, if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization which purports to state, amend or restate the registered organization's name; (ii) Subject to subsection (f) of this section, if the collateral is being administered by the personal representative of a decedent, only if the financing statement provides, as the name of the debtor, the name of the decedent and, in a separate part of the financing statement, indicates that the collateral is being administered by a personal representative; (iii) If the collateral is held in a trust that is not a registered organization, only if the financing statement: (A) Provides as for the debtor: (I) If the organic record of the trust specifies a name for the trust, the name specified; or (II) If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and (B) In a separate part of the financing statement: (I) If the name is provided in accordance with subparagraph (A)(I) of this paragraph, indicates that the collateral is held in trust; or (II) If the name is provided in accordance with subparagraph (A)(II) of this paragraph, provides additional information sufficient to distinguish the trust from other trusts having one (1) or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates; and (C) Indicates, in the debtor's name or otherwise, that the debtor is a trust or is a trustee acting with respect to property held in trust; (iv) If the debtor is an individual, only if the financing statement: (A) Provides the individual name of the debtor; (B) Provides the surname and first personal name of the debtor; or (C) Subject to subsection (g) of this section, provides the name of the individual which is indicated on a driver's license or identification card that this state has issued to the individual and which has not expired; and (v) In other cases: (A) If the debtor has a name, only if the financing statement provides the organizational name of the debtor; and (B) If the debtor does not have a name, only if the financing statement provides the names of the partners, members, associates or other persons comprising the debtor in a manner that each name provided would be sufficient if the person named were the debtor. (b) A financing statement that provides the name of the debtor in accordance with subsection (a) is not rendered ineffective by the absence of: (i) A trade name or other name of the debtor; or (ii) Unless required under subparagraph (a)(v)(B), names of partners, members, associates or other persons comprising the debtor. (c) A financing statement that provides only the debtor's trade name does not sufficiently provide the name of the debtor. (d) Failure to indicate the representative capacity of a secured party or representative of a secured party does not affect the sufficiency of a financing statement. (e) A financing statement may provide the name of more than one (1) debtor and the name of more than one (1) secured party. (f) The name of the decedent indicated on the order appointing the personal representative of the decedent issued by the court having jurisdiction over the collateral is sufficient as the name of the decedent under paragraph (a)(ii) of this section. (g) If the state has issued to an individual more than one (1) driver's license or identification card of a kind described in subparagraph (a)(iv)(C), the one (1) that was issued most recently is the one (1) to which subparagraph (a)(iv)(C) refers. (h) In this section, the "name of the settlor or testator" means: (i) If the settlor is a registered organization, the name of the registered organization indicated on the public organic record filed with or issued or enacted by the registered organization's jurisdiction of organization; or (ii) In other cases, the name of the settlor or testator indicated in the trust's organic record.

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34.1-9-504. Indication of collateral.

(a) A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (i) A description of the collateral pursuant to section 34.1-9-108; or (ii) An indication that the financing statement covers all assets or all personal property.

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34.1-9-505. Filing and compliance with other statutes and

treaties for consignments, leases, other bailments and other transactions. (a) A consignor, lessor or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in section 34.1-9-311(a), using the terms "consignor", "consignee", "lessor", "lessee", "bailor", "bailee", "licensor", "licensee", "owner", "registered owner", "buyer", "seller" or words of similar import, instead of the terms "secured party" and "debtor". (b) This part applies to the filing of a financing statement under subsection (a) and, as appropriate, to compliance that is equivalent to filing a financing statement under section 34.1-9-311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner or buyer which attaches to the collateral is perfected by the filing or compliance.

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34.1-9-506. Effect of errors or omissions.

(a) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading. (b) Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 34.1-9-503(a) is seriously misleading. (c) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with section 34.1-9-503(a), the name provided does not make the financing statement seriously misleading. (d) For purposes of section 34.1-9-508(b), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.

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34.1-9-507. Effect of certain events on effectiveness of financing statement.

(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. (b) Except as otherwise provided in subsection (c) and section 34.1-9-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 34.1-9-506. (c) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under W.S. 34.1-9-503(a) so that the financing statement becomes seriously misleading under section 34.1-9-506: (i) The financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four (4) months after, the filed financing statement becomes seriously misleading; and (ii) The financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four (4) months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four (4) months after the filed financing statement becomes seriously misleading.

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34.1-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement.

(a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral. (b) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection (a) to be seriously misleading under section 34.1-9-506: (i) The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four (4) months after, the new debtor becomes bound under section 34.1-9-203(d); and (ii) The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four (4) months after the new debtor becomes bound under section 34.1-9-203(d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time. (c) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under section 34.1-9-507(a).

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34.1-9-509. Persons entitled to file a record.

(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement or amendment that adds a debtor to a financing statement only if: (i) The debtor authorizes the filing in an authenticated record or pursuant to subsection (b) or (c) of this section; or (ii) The person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien. (b) By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering: (i) The collateral described in the security agreement; and (ii) Property that becomes collateral under section 34.1-9-315(a)(ii), whether or not the security agreement expressly covers proceeds. (c) By acquiring collateral in which a security interest or agricultural lien continues under section 34.1-9-315(a)(i), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under section 34.1-9-315(a)(ii). (d) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if: (i) The secured party of record authorizes the filing; or (ii) The amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by section 34.1-9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed. (e) If there is more than one (1) secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d).

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34.1-9-510. Effectiveness of filed record.

(a) A filed record is effective only to the extent that it was filed by a person that may file it under section 34.1-9-509. (b) A record authorized by one (1) secured party of record does not affect the financing statement with respect to another secured party of record. (c) A continuation statement that is not filed within the six (6) month period prescribed by section 34.1-9-515(d) is ineffective.

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34.1-9-511. Secured party of record.

(a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under section 34.1-9-514(a), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement. (b) If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under section 34.1-9-514(b), the assignee named in the amendment is a secured party of record. (c) A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.

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34.1-9-512. Amendment of financing statement.

(a) Subject to section 34.1-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that: (i) Identifies, by its file number, the initial financing statement to which the amendment relates; and (ii) If the amendment relates to an initial financing statement filed or recorded in a filing office described in section 34.1-9-501(a)(i), provides the date and time that the initial financing statement was filed or recorded and the information specified in section 34.1-9-502(b). (b) Except as otherwise provided in section 34.1-9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement. (c) A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment. (d) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment. (e) An amendment is ineffective to the extent it: (i) Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or (ii) Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.

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34.1-9-513. Termination statement.

(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (i) There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation or otherwise give value; or (ii) The debtor did not authorize the filing of the initial financing statement. (b) To comply with subsection (a), a secured party shall cause the secured party of record to file the termination statement: (i) Within one (1) month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation or otherwise give value; or (ii) If earlier, within twenty (20) days after the secured party receives an authenticated demand from a debtor. (c) In cases not governed by subsection (a), within twenty (20) days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if: (i) Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation or otherwise give value; (ii) The financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation; (iii) The financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or (iv) The debtor did not authorize the filing of the initial financing statement. (d) Except as otherwise provided in section 34.1-9-510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in W.S. 34.1-9-510, for purposes of W.S. 34.1-9-519(g), 34.1-9-522(a), and 34.1-9-523(c), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.

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34.1-9-514. Assignment of powers of secured party of record.

(a) Except as otherwise provided in subsection (c), an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party. (b) Except as otherwise provided in subsection (c), a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which: (i) Identifies, by its file number, the initial financing statement to which it relates; (ii) Provides the name of the assignor; and (iii) Provides the name and mailing address of the assignee. (c) An assignment of record of a security interest in a fixture covered by a record of a mortgage which is effective as a financing statement filed as a fixture filing under section 34.1-9-502(c) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than this title.

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34.1-9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement.

(a) Except as otherwise provided in subsections (b), (e), (f) and (g), a financing statement filed prior to July 1, 2013 is effective for a period of five (5) years after the date of filing and a financing statement filed on or after July 1, 2013 is effective for a period of ten (10) years. (b) Except as otherwise provided in subsections (e), (f) and (g), an initial financing statement filed in connection with a public-finance transaction or manufactured-home transaction is effective for a period of thirty (30) years after the date of filing if it indicates that it is filed in connection with a public-finance transaction or manufactured-home transaction. (c) The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to subsection (d). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected otherwise. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value. (d) A continuation statement may be filed only within six (6) months before the expiration of the period specified in subsection (a) or the thirty (30) year period specified in subsection (b), whichever is applicable. (e) Except as otherwise provided in section 34.1-9-510, upon timely filing of a continuation statement prior to July 1, 2013, the effectiveness of the initial financing statement continues for a period of five (5) years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Except as otherwise provided in section 34.1-9-510, upon timely filing of a continuation statement on or after July 1, 2013, the effectiveness of the initial financing statement continues for a period of ten (10) years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the specified period, the financing statement lapses in the same manner as provided in subsection (c), unless, before the lapse, another continuation statement is filed pursuant to subsection (d). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement. (f) If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed. (g) A record of a mortgage that is effective as a financing statement filed as a fixture filing under section 34.1-9-502(c) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.

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34.1-9-516. What constitutes filing; effectiveness of filing.

(a) Except as otherwise provided in subsection (b), communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing. (b) Filing does not occur with respect to a record that a filing office refuses to accept because: (i) The record is not communicated by a method or medium of communication authorized by the filing office; (ii) An amount equal to or greater than the applicable filing fee is not tendered; (iii) The filing office is unable to index the record because: (A) In the case of an initial financing statement, the record does not provide a name for the debtor; (B) In the case of an amendment or correction statement, the record: (I) Does not identify the initial financing statement as required by section 34.1-9-512 or 34.1-9-518, as applicable; or (II) Identifies an initial financing statement whose effectiveness has lapsed under section 34.1-9-515. (C) In the case of an initial financing statement that provides the name of a debtor identified as an individual or an amendment that provides a name of a debtor identified as an individual which was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's surname; or (D) In the case of a record filed or recorded in the filing office described in section 34.1-9-501(a)(i), the record does not provide a sufficient description of the real property to which it relates. (iv) In the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record; (v) In the case of an initial financing statement or an amendment that provides a name of a debtor which was not previously provided in the financing statement to which the amendment relates, the record does not: (A) Provide a mailing address for the debtor; or (B) Indicate whether the name provided as the name of the debtor is the name of an individual or an organization; (C) Repealed By Laws 2013, Ch. 8, § 3. (vi) In the case of an assignment reflected in an initial financing statement under section 34.1-9-514(a) or an amendment filed under section 34.1-9-514(b), the record does not provide a name and mailing address for the assignee; or (vii) In the case of a continuation statement, the record is not filed within the six (6) month period prescribed by section 34.1-9-515(d). (c) For purposes of subsection (b): (i) A record does not provide information if the filing office is unable to read or decipher the information; and (ii) A record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by section 34.1-9-512, 34.1-9-514 or 34.1-9-518, is an initial financing statement. (d) A record that is communicated to the filing office with tender of the filing fee, but which the filing office refuses to accept for a reason other than one set forth in subsection (b), is effective as a filed record except as against a purchaser of the collateral which gives value in reasonable reliance upon the absence of the record from the files.

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34.1-9-517. Effect of indexing errors.

The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record.

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34.1-9-518. Claim concerning inaccurate or wrongfully filed record.

(a) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed. (b) An information statement under subsection (a) of this section must: (i) Identify the record to which it relates by: (A) The file number assigned to the initial financing statement to which the record relates; and (B) If the information statement relates to a record filed or recorded in a filing office described in section 34.1-9-501(a)(i), the date and time that the initial financing statement was filed or recorded and the information specified in section 34.1-9-502(b). (ii) Indicate that it is an information statement; and (iii) Provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed. (c) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under W.S. 34.1-9-509(d). (d) An information statement under subsection (c) of this section shall: (i) Identify the record to which it relates by: (A) The file number assigned to the initial financing statement to which the record relates; and (B) If the information statement relates to a record filed or recorded in a filing office described in W.S. 34.1-9-501(a)(i), the date and time that the initial financing statement was filed or recorded and the information specified in W.S. 34.1-9-502(b). (ii) Indicate that it is an information statement; and (iii) Provide the basis for the person's belief that the person that filed the record was not entitled to do so under W.S. 34.1-9-509(d). (e) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.

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34.1-9-519. 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 record and the date and time of filing; (iii) Maintain the filed record for public inspection; and (iv) Index the filed record in accordance with subsections (c), (d) and (e). (b) A file number assigned after January 1, 2005, must include a digit that: (i) Is mathematically derived from or related to the other digits of the file number; and (ii) Aids the filing office in determining whether a number communicated as the file number includes a single-digit or transpositional error. (c) Except as otherwise provided in subsections (d) and (e), the filing office shall: (i) Index an initial financing statement according to the name of the debtor and index all filed records relating to the initial financing statement in a manner that associates with one another an initial financing statement and all filed records relating to the initial financing statement; and (ii) Index a record that provides a name of a debtor which was not previously provided in the financing statement to which the record relates also according to the name that was not previously provided. (d) If a financing statement is filed as a fixture filing or covers as-extracted collateral or timber to be cut, it must be filed for record and the filing office shall index it: (i) Under the names of the debtor and of each owner of record shown on the financing statement as if they were the mortgagors under a mortgage of the real property described; and (ii) To the extent that the law of this state provides for indexing of records of mortgages under the name of the mortgagee, under the name of the secured party as if the secured party were the mortgagee thereunder, or, if indexing is by description, as if the financing statement were a record of a mortgage of the real property described. (e) If a financing statement is filed as a fixture filing or covers as-extracted collateral or timber to be cut, the filing office shall index an assignment filed under section 34.1-9-514(a) or an amendment filed under section 34.1-9-514(b): (i) Under the name of the assignor as grantor; and (ii) To the extent that the law of this state provides for indexing a record of the assignment of a mortgage under the name of the assignee, under the name of the assignee. (f) The filing office shall maintain a capability: (i) To retrieve a record by the name of the debtor and: (A) If the filing office is described in section 34.1-9-501(a)(i), by the file number assigned to the initial financing statement to which the record relates and the date and time that the record was filed or recorded; or (B) If the filing office is described in section 34.1-9-501(a)(ii), by the file number assigned to the initial financing statement to which the record relates; and (ii) To associate and retrieve with one another an initial financing statement and each filed record relating to the initial financing statement. (g) The filing office may not remove a debtor's name from the index until one (1) year after the effectiveness of a financing statement naming the debtor lapses under section 34.1-9-515 with respect to all secured parties of record. (h) The filing office shall perform the acts required by subsections (a) through (e) at the time and in the manner prescribed by filing-office rule, but not later than two (2) business days after the filing office receives the record in question. (j) Subsections (b) and (h) do not apply to a filing office described in section 34.1-9-501(a)(i).

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34.1-9-520. 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 refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing-office rule but, in the case of a filing office described in section 34.1-9-501(a)(ii), in no event more than two (2) business days after the filing office receives the record. (c) A filed financing statement satisfying section 34.1-9-502(a) and (b) is effective, even if the filing office is required to refuse to accept it for filing under subsection (a). However, section 34.1-9-338 applies to a filed financing statement providing information described in section 34.1-9-516(b)(v) which is incorrect at the time the financing statement is filed. (d) If a record communicated to a filing office provides information that relates to more than one (1) debtor, this part applies as to each debtor separately.

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34.1-9-521. 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 prescribed by the state except for a reason set forth in W.S. 34.1-9-516(b). (d) A filing office that accepts written records may not refuse to accept a written record in the form and format prescribed by the state except for a reason set forth in W.S. 34.1-9-516(b). (e) The secretary of state is authorized to prescribe forms and formats described in subsections (c) and (d) of this section by rule and regulation.

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34.1-9-522. 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 secured parties of record. The record must be retrievable by using the name of the debtor and: (i) If the record was filed or recorded in the filing office described in section 34.1-9-501(a)(i), by using the file number assigned to the initial financing statement to which the record relates and the date and time that the record was filed or recorded; or (ii) If the record was filed in the filing office described in section 34.1-9-501(a)(ii), by using the file number assigned to the initial financing statement to which the record relates. (b) Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (a).

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34.1-9-523. 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 34.1-9-519(a)(i) and the date and time of the filing of the record. However, if the person furnishes a copy of the record to the filing office, the filing office may instead: (i) Note upon the copy the number assigned to the record pursuant to section 34.1-9-519(a)(i) and the date and time of the filing of the record; and (ii) Send the copy to the person. (b) If a person files a record other than a written record, the filing office shall communicate to the person an acknowledgment that provides: (i) The information in the record; (ii) The number assigned to the record pursuant to section 34.1-9-519(a)(i); and (iii) The date and time of the filing of the record. (c) The filing office shall communicate or otherwise make available in a record the following information to any person that requests it: (i) Whether there is on file on a date and time specified by the filing office, but not a date earlier than three (3) business days before the filing office receives the request, any financing statement that: (A) Designates a particular debtor; (B) Has not lapsed under section 34.1-9-515 with respect to all secured parties of record; and (C) If the request so states, has lapsed under section 34.1-9-515 and a record of which is maintained by the filing office under section 34.1-9-522(a). (ii) The date and time of filing of each financing statement; and (iii) The information provided in each financing statement. (d) In complying with its duty under subsection (c), the filing office may communicate information in any medium. However, if requested, the filing office shall communicate information by issuing its written certificate. (e) The filing office shall perform the acts required by subsections (a) through (d) at the time and in the manner prescribed by filing-office rule, but not later than two (2) business days after the filing office receives the request. (f) At least weekly, the secretary of state shall offer to sell or license to the public on a nonexclusive basis, in bulk, copies of all records filed in it under this part, in every medium from time to time available to the filing office.

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34.1-9-524. 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 of the filing office; and (ii) The filing office exercises reasonable diligence under the circumstances.

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34.1-9-525. 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: (i) If a record presented for filing is communicated to the filing office in writing and consists of more than two (2) pages, the fee for filing and indexing the record must be at least twice the amount of the fee for a record communicated in writing that consists of one (1) or two (2) pages; and (ii) If the record is communicated by another medium authorized by filing-office rule, the fee for filing and indexing the record must be no more than half the amount of the fee for a record communicated in writing that consists of one (1) or two (2) pages. (b) There is no subsection (b). (c) The number of names required to be indexed does not affect the amount of the fees in subsections (a) and (b). (d) The rule adopted pursuant to subsection (a) must set the fee for responding to a request for information from the filing office, including for communicating whether there is on file any financing statement naming a particular debtor. A fee for responding to a request communicated in writing must be not less than twice the amount of the fee for responding to a request communicated by another medium authorized by filing-office rule. This subsection does not require that a fee be charged for remote access searching of the filing office data base. The rule adopted pursuant to subsection (a) need not specify a fee for remote access searching of the filing office data base. (e) This section does not require a fee with respect to a record of mortgage that is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under section 34.1-9-502(c). However, the recording and satisfaction fees that otherwise would be applicable to the record of mortgage apply.

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34.1-9-526. 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 filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially this part, and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions that enact substantially this part, the secretary of state, so far as is consistent with the purposes, policies and provisions of this article, in adopting, amending and repealing filing-office rules, shall: (i) Consult with filing offices in other jurisdictions that enact substantially this part; and (ii) Consult the most recent version of the Model Rules promulgated by the International Association of Corporate Administrators or any successor organization; and (iii) Take into consideration the rules and practices of, and the technology used by, filing offices in other jurisdictions that enact substantially this part.

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34.1-9-527. Repealed By Laws 2008, Ch. 44, § 2.

Repealed By Laws 2008, Ch. 44, § 2.

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34.1-9-601. 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 agreement of the parties. A secured party: (i) May reduce a claim to judgment, foreclose or otherwise enforce the claim, security interest or agricultural lien by any available judicial procedure; and (ii) If the collateral is documents, may proceed either as to the documents or as to the goods they cover. (b) A secured party in possession of collateral or control of collateral under section 34.1-7-106, 34.1-9-104, 34.1-9-105, 34.1-9-106 or 34.1-9-107 has the rights and duties provided in section 34.1-9-207. (c) The rights under subsections (a) and (b) are cumulative and may be exercised simultaneously. (d) Except as otherwise provided in subsection (g) and section 34.1-9-605, after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties. (e) If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of: (i) The date of perfection of the security interest or agricultural lien in the collateral; (ii) The date of filing a financing statement covering the collateral; or (iii) Any date specified in a statute under which the agricultural lien was created. (f) A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this article. (g) Except as otherwise provided in section 34.1-9-607(c), this part imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles or promissory notes.

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34.1-9-602. 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 sections: (i) Section 34.1-9-207(b)(iv)(C), which deals with use and operation of the collateral by the secured party; (ii) Section 34.1-9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account; (iii) Section 34.1-9-607(c), which deals with collection and enforcement of collateral; (iv) Sections 34.1-9-608(a) and 34.1-9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement or disposition; (v) Sections 34.1-9-608(a) and 34.1-9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral; (vi) Section 34.1-9-609 to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace; (vii) Sections 34.1-9-610(b), 34.1-9-611, 34.1-9-613 and 34.1-9-614, which deal with disposition of collateral; (viii) Section 34.1-9-615(f), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor; (ix) Section 34.1-9-616, which deals with explanation of the calculation of a surplus or deficiency; (x) Sections 34.1-9-620, 34.1-9-621 and 34.1-9-622, which deal with acceptance of collateral in satisfaction of obligation; (xi) Section 34.1-9-623, which deals with redemption of collateral; (xii) Section 34.1-9-624, which deals with permissible waivers; and (xiii) Sections 34.1-9-625 and 34.1-9-626, which deal with the secured party's liability for failure to comply with this article.

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34.1-9-603. 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 manifestly unreasonable. (b) Subsection (a) does not apply to the duty under section 34.1-9-609 to refrain from breaching the peace.

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