Wyoming § 34.1-5-118 Security interest of issuer or nominated
person

Wyoming Statutes

§ 34.1-5-118 — Security interest of issuer or nominated person

Wyoming § 34.1-5-118

Title 34.1Uniform Commercial Code

Art. 4BANK DEPOSITS AND COLLECTIONS

This text of Wyoming § 34.1-5-118 (Security interest of issuer or nominated person) 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. § 34.1-5-118 (2026).

Text

(a)An issuer or nominated person has a security interest in a document presented under a letter of credit to the extent that the issuer or nominated person honors or gives value for the presentation.

(b)So long as and to the extent that an issuer or nominated person has not been reimbursed or has not otherwise recovered the value given with respect to a security interest in a document under subsection (a) of this section, the security interest continues and is subject to article 9, but:

(i)A security agreement is not necessary to make the security interest enforceable under W.S. 34.1-9-203(b)(iii);

(ii)If the document is presented in a medium other than a written or other tangible medium, the security interest is perfected; and

(iii)If the document is presented in a written or other t

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(a) An issuer or nominated person has a security interest
in a document presented under a letter of credit to the extent
that the issuer or nominated person honors or gives value for
the presentation.
(b) So long as and to the extent that an issuer or
nominated person has not been reimbursed or has not otherwise
recovered the value given with respect to a security interest in
a document under subsection (a) of this section, the security
interest continues and is subject to article 9, but:
(i) A security agreement is not necessary to make the
security interest enforceable under W.S. 34.1-9-203(b)(iii);
(ii) If the document is presented in a medium other
than a written or other tangible medium, the security interest
is perfected; and
(iii) If the document is presented in a written or
other tangible medium and is not a certificated security,
chattel paper, a document of title, an instrument or a letter of
credit, the security interest is perfected and has priority over
a conflicting security interest in the document so long as the
debtor does not have possession of the document.