Wyoming Promissory Note

A secured or unsecured loan note with installment or lump-sum repayment, interest within your state's legal limit, late fees and default terms.

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Wyoming rules that this document follows

Maximum interest (private loans)7% per year — No cap on interest agreed in writing; 7% applies absent agreement; consumer credit by lenders governed by the Wyoming UCCC (§ 40-14-301 et seq.)Source: Wyo. Stat. § 40-14-106(e)
Legal rate when none is stated7%Source: Wyo. Stat. § 40-14-106(e)
Late feesNo statutory cap on late fees for private (non-consumer-lender) loans; fee must be a reasonable liquidated-damages estimate and, together with interest, must not push the effective rate above the usury ceiling
Time to sue on a written note10 yearsSource: Wyo. Stat. § 1-3-105(a)(i)
Notarization / witnessesNot required (optional for evidentiary value)

Rules current as of 2026-09-07. Statutes change; verify before relying on them.

How to use this Promissory Note in Wyoming

Keep the interest rate at or below the Wyoming ceiling shown above; a usurious note can cost the lender all interest and more. For loans between family members, the IRS applicable federal rate (AFR) is the minimum to avoid imputed-gift issues on loans above $10,000.

Sign one original; the lender keeps it and the borrower keeps a copy. When the note is paid, the lender should mark it 'PAID IN FULL' and return it.

Frequently asked questions

What is the maximum interest rate I can charge in Wyoming?

7% per year for a private written loan (Wyo. Stat. § 40-14-106(e)). No cap on interest agreed in writing; 7% applies absent agreement; consumer credit by lenders governed by the Wyoming UCCC (§ 40-14-301 et seq.)

Does a promissory note need a notary or witnesses?

No. A note signed by the borrower is enforceable in Wyoming. Notarizing is optional; for a secured loan, file a UCC-1 or note the lien on the vehicle title to protect the lender.

How long can the lender sue on an unpaid note?

10 years from default (Wyo. Stat. § 1-3-105(a)(i)).

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FormsByState provides self-help document templates and general information, not legal advice. We are not a law firm. For advice about your situation consult a licensed attorney in your state.