Wyoming § 34.1-9-608 Application of proceeds of collection or
enforcement; liability for deficiency and right to surplus

Wyoming Statutes

§ 34.1-9-608 — Application of proceeds of collection or enforcement; liability for deficiency and right to surplus

Wyoming § 34.1-9-608

Title 34.1Uniform Commercial Code

Art. 9SECURED TRANSACTIONS

This text of Wyoming § 34.1-9-608 (Application of proceeds of collection or enforcement; liability for deficiency and right to surplus) 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. § 34.1-9-608 (2026).

Text

(a)If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply:

(i)A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under W.S. 34.1-9-607 in the following order to:

(A)The reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party;

(B)The satisfaction of obligations secured by the security interest or agricultural lien under which the collection or enforcement is made; and

(C)The satisfaction of obligations secured by any subordinate security interest in or other lien on the collateral subject to the security interest or agricultural lie

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(a) If a security interest or agricultural lien secures
payment or performance of an obligation, the following rules
apply:
(i) A secured party shall apply or pay over for
application the cash proceeds of collection or enforcement under
W.S. 34.1-9-607 in the following order to:
(A) The reasonable expenses of collection and
enforcement and, to the extent provided for by agreement and not
prohibited by law, reasonable attorney's fees and legal expenses
incurred by the secured party;
(B) The satisfaction of obligations secured by
the security interest or agricultural lien under which the
collection or enforcement is made; and
(C) The satisfaction of obligations secured by
any subordinate security interest in or other lien on the
collateral subject to the security interest or agricultural lien
under which the collection or enforcement is made if the secured
party receives an authenticated demand for proceeds before
distribution of the proceeds is completed.
(ii) If requested by a secured party, a holder of a
subordinate security interest or other lien shall furnish
reasonable proof of the interest or lien within a reasonable
time. Unless the holder complies, the secured party need not
comply with the holder's demand under subparagraph (a)(i)(C);
(iii) A secured party need not apply or pay over for
application noncash proceeds of collection and enforcement under
W.S. 34.1-9-607 unless the failure to do so would be
commercially unreasonable. A secured party that applies or pays
over for application noncash proceeds shall do so in a
commercially reasonable manner;
(iv) A secured party shall account to and pay a
debtor for any surplus, and the obligor is liable for any
deficiency.
(b) If the underlying transaction is a sale of accounts,
chattel paper, payment intangibles or promissory notes, the
debtor is not entitled to any surplus, and the obligor is not
liable for any deficiency.