§ 34.1-9-335 — Accessions

Wyoming § 34.1-9-335

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

Text

(a) A security interest may be created in an accession and
continues in collateral that becomes an accession.
(b) If a security interest is perfected when the
collateral becomes an accession, the security interest remains
perfected in the collateral.
(c) Except as otherwise provided in subsection (d), the
other provisions of this part determine the priority of a
security interest in an accession.
(d) A security interest in an accession is subordinate to
a security interest in the whole which is perfected by
compliance with the requirements of a certificate-of-title
statute under section 34.1-9-311(b).
(e) After default, subject to Part 6, a secured party may
remove an accession from other goods if the security interest in
the accession has priority over the claims of every person
having an interest in the whole.
(f) A secured party that removes an accession from other
goods under subsection (e) shall promptly reimburse any holder
of a security interest or other lien on, or owner of, the whole
or of the other goods, other than the debtor, for the cost of
repair of any physical injury to the whole or the other goods.
The secured party need not reimburse the holder or owner for any
diminution in value of the whole or the other goods caused by
the absence of the accession removed or by any necessity for
replacing it. A person entitled to reimbursement may refuse
permission to remove until the secured party gives adequate
assurance for the performance of the obligation to reimburse.