§ 34.1-9-617 — Rights of transferee of collateral

Wyoming § 34.1-9-617

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

Text

(a) A secured party's disposition of collateral after
default:
(i) Transfers to a transferee for value all of the
debtor's rights in the collateral;
(ii) Discharges the security interest under which the
disposition is made; and
(iii) Discharges any subordinate security interest or
other subordinate lien.
(b) A transferee that acts in good faith takes free of the
rights and interests described in subsection (a), even if the
secured party fails to comply with this article or the
requirements of any judicial proceeding.
(c) If a transferee does not take free of the rights and
interests described in subsection (a), the transferee takes the
collateral subject to:
(i) The debtor's rights in the collateral;
(ii) The security interest or agricultural lien under
which the disposition is made; and
(iii) Any other security interest or other lien.