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Wyoming Secured Promissory Note

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Prepare a legally proper Secured Promissory Note for Wyoming that incorporates all required terms under Wyoming promissory note law. Fill in your loan details and download your completed, ready-to-sign Secured Promissory Note as a professional PDF.

Wyoming law governs promissory notes with specific usury limits and enforcement rules that protects both lending party and debtor. Wyoming does not impose a general statutory cap on interest rates for private loans. Lenders have 10 years to file suit to collect on a promissory note in Wyoming. Wyoming law requires 4 specific elements in a valid promissory note.

Wyoming Promissory Note Requirements

Max Interest Rate No statutory cap
Rate Details No general usury cap
Usury Penalty UCCC remedies only
Statute of Limitations 10 years
Notarization Recommended
Witnesses Recommended (1)
Governing Agency Wyoming District Courts
Required Elements Written agreement signed by borrower; Detailed collateral description; Interest rate disclosure; Lien filing if applicable

What to Include in a Wyoming Secured Promissory Note

Every Secured Promissory Note in Wyoming should include the following critical provisions: the full legal names and addresses of both the lender and obligor, the principal loan amount, the interest rate (which must not exceed the agreed-upon rate under Wyoming law), the repayment schedule and due dates, any late payment penalties, the consequences of default, and the governing law clause. Because this is a secured promissory note, you must also describe the collateral in detail, including how it will be valued and the lender's right to seize it upon default.

Wyoming requires the following elements in a valid promissory note: written agreement signed by borrower, detailed collateral description, interest rate disclosure, lien filing if applicable.

How to Complete a Wyoming Secured Promissory Note

To complete a Secured Promissory Note in Wyoming, start by gathering the necessary information: the full legal names and addresses of both parties, the loan amount, the agreed-upon interest rate, the repayment terms, and any collateral details if applicable.

Our platform walks you through each section with a guided form tailored to Wyoming requirements. Once you have filled in all details, you can preview the document, choose from five professional document styles, and download your completed Secured Promissory Note as a PDF.

Frequently Asked Questions

Is a promissory note legally binding in Wyoming?
Yes. A properly executed promissory note is a legally enforceable contract in Wyoming. To be binding, it must identify both parties, state the loan amount and repayment terms, and be signed by the borrower. While notarization is not required in Wyoming, it is recommended to add an extra layer of authenticity. Lenders have 10 years to pursue legal action to collect on a defaulted note.
What is the maximum interest rate for a promissory note in Wyoming?
Wyoming does not impose a general statutory cap on interest rates for private written contracts, giving parties significant flexibility to agree on a rate. However, any rate that a court deems unconscionable or predatory may still be challenged.
Do I need a notary for a promissory note in Wyoming?
Notarization is not required for a promissory note to be legally valid in Wyoming. However, notarizing the document is strongly recommended — it deters forgery claims, simplifies enforcement in court, and makes the note self-authenticating as evidence. Having 1 witness is also recommended.
What happens if the borrower defaults on a promissory note in Wyoming?
If the borrower defaults, the lender may demand immediate repayment of the full outstanding balance, charge any default interest rate specified in the note, and pursue legal action in Wyoming court. Because this is a secured note, the lender may also seize and sell the collateral to recover the outstanding amount. Lenders have 10 years from the date of default to file a lawsuit under Wyoming's statute of limitations for written contracts.
What must be included in a Wyoming Secured Promissory Note?
A valid Secured Promissory Note in Wyoming must include: Written agreement signed by borrower; Detailed collateral description; Interest rate disclosure; Lien filing if applicable. Our platform automatically includes all required elements for Wyoming in your generated document, formatted to meet state standards.

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