Wyoming Statutes
§ 40-14-242 — Cross-collateral
(a)In addition to contracting for a security interest
pursuant to the provisions on security in sales or leases (W.S.
40-14-241), a seller in a consumer credit sale may secure the
debt arising from the sale by contracting for a security
interest in other property if as a result of a prior sale the
seller has an existing security interest in the other property.
The seller may also contract for a security interest in the
property sold in the subsequent sale as security for the
previous debt.
(b)If the seller contracts for a security interest in
other property pursuant to this section, the rate of credit
service charge thereafter on the aggregate unpaid balances so
secured may not exceed that permitted if the balances so secured
were consolidated pursuant to the provisions on consolidation
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Nearby Sections
15
§ 40-14-101
Short title§ 40-14-102
Purposes; rules of construction§ 40-14-104
Construction against implicit repeal§ 40-14-105
Severability§ 40-14-106
Waiver; agreement to forego rights; settlement
of claims; legal rate of interest; applicability§ 40-14-107
Effect on powers of organizations§ 40-14-120
Territorial application§ 40-14-121
Exclusions§ 40-14-140
General definitions§ 40-14-141
Definition§ 40-14-142
Index of definitions§ 40-14-201
Short title§ 40-14-202
Scope; license required§ 40-14-203
Definitions