Wyoming § 40-14-242 Cross-collateral

Wyoming Statutes

§ 40-14-242 — Cross-collateral

Wyoming § 40-14-242

Title 40Trade and Commerce

Ch. 14WYOMING UNIFORM CONSUMER CREDIT CODE

Art. 2CREDIT SALES

This text of Wyoming § 40-14-242 (Cross-collateral) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 40-14-242 (2026).

Text

(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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(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
involving a refinancing (W.S. 40-14-217(a)(i)). The seller has a
reasonable time after so contracting to make any adjustments
required by this section. "Seller" in this section does not
include an assignee not related to the original seller.