Wyo. Stat. § 34.1-9-329: Priority of security interests in letter-of-credit right.

(a) The following rules govern priority among conflicting security interests in the same letter-of-credit right:

(i) A security interest held by a secured party having control of the letter-of-credit right under section 34.1-9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control;

(ii) Security interests perfected by control under section 34.1-9-314 rank according to priority in time of obtaining control.