§ 34.1-9-320 — Buyer of goods

Wyoming § 34.1-9-320

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

Text

(a) Except as otherwise provided in subsection (e), a
buyer in ordinary course of business, other than a person buying
farm products from a person engaged in farming operations, takes
free of a security interest created by the buyer's seller, even
if the security interest is perfected and the buyer knows of its
existence.
(b) Except as otherwise provided in subsection (e), a
buyer of goods from a person who used or bought the goods for
use primarily for personal, family or household purposes takes
free of a security interest, even if perfected, if the buyer
buys:
(i) Without knowledge of the security interest;
(ii) For value;
(iii) Primarily for the buyer's personal, family or
household purposes; and
(iv) Before the filing of a financing statement
covering the goods.
(c) To the extent that it affects the priority of a
security interest over a buyer of goods under subsection (b),
the period of effectiveness of a filing made in the jurisdiction
in which the seller is located is governed by section
34.1-9-316(a) and (b).
(d) A buyer in ordinary course of business buying oil, gas
or other minerals at the wellhead or minehead or after
extraction takes free of an interest arising out of an
encumbrance.
(e) Subsections (a) and (b) do not affect a security
interest in goods in the possession of the secured party under
section 34.1-9-313.