§ 34.1-9-305 — Law governing perfection and priority of security interests in investment property

Wyoming § 34.1-9-305

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 9: SECURED TRANSACTIONS

Text

(a) Except as otherwise provided in subsection (c), the
following rules apply:
(i) While a security certificate is located in a
jurisdiction, the local law of that jurisdiction governs
perfection, the effect of perfection or nonperfection and the
priority of a security interest in the certificated security
represented thereby;
(ii) The local law of the issuer's jurisdiction as
specified in section 34.1-8-110(d) governs perfection, the
effect of perfection or nonperfection and the priority of a
security interest in an uncertificated security;
(iii) The local law of the securities intermediary's
jurisdiction as specified in section 34.1-8-110(e) governs
perfection, the effect of perfection or nonperfection and the
priority of a security interest in a security entitlement or
securities account;
(iv) The local law of the commodity intermediary's
jurisdiction governs perfection, the effect of perfection or
nonperfection and the priority of a security interest in a
commodity contract or commodity account.
(b) The following rules determine a commodity
intermediary's jurisdiction for purposes of this part:
(i) If an agreement between the commodity
intermediary and commodity customer governing the commodity
account expressly provides that a particular jurisdiction is the
commodity intermediary's jurisdiction for purposes of this part,
this article or this title, that jurisdiction is the commodity
intermediary's jurisdiction;
(ii) If paragraph (i) does not apply and an agreement
between the commodity intermediary and commodity customer
governing the commodity account expressly provides that the
agreement is governed by the law of a particular jurisdiction,
that jurisdiction is the commodity intermediary's jurisdiction;
(iii) If neither paragraph (i) nor (ii) applies and
an agreement between the commodity intermediary and commodity
customer governing the commodity account expressly provides that
the commodity account is maintained at an office in a particular
jurisdiction, that jurisdiction is the commodity intermediary's
jurisdiction;
(iv) If none of the preceding paragraphs applies, the
commodity intermediary's jurisdiction is the jurisdiction in
which the office identified in an account statement as the
office serving the commodity customer's account is located;
(v) If none of the preceding paragraphs applies, the
commodity intermediary's jurisdiction is the jurisdiction in
which the chief executive office of the commodity intermediary
is located.
(c) The local law of the jurisdiction in which the debtor
is located governs:
(i) Perfection of a security interest in investment
property by filing;
(ii) Automatic perfection of a security interest in
investment property created by a broker or securities
intermediary; and
(iii) Automatic perfection of a security interest in
a commodity contract or commodity account created by a commodity
intermediary.