Title 40 — Title 40 — Trade And Commerce
32 chapters · 686 sections in this title.
W.S. § 40-14-101 Short title
0.1K chars
Short title. This act shall be known and may be cited as "Wyoming Uniform Consumer Credit Code."
W.S. § 40-14-102 Purposes; rules of construction
1.3K chars
Purposes; rules of construction. (a) This act shall be liberally construed and applied to promote its underlying purposes and policies. (b) The underlying purposes and policies of this act are: (i) To simplify, clarify and modernize the law governing retail installment sales, con…
W.S. § 40-14-103 applicable
0.4K chars
applicable. Supplementary general principles of law Unless displaced by the particular provisions of this act, the Uniform Commercial Code and the principles of law and equity, including the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresenta…
W.S. § 40-14-104 Construction against implicit repeal
0.2K chars
Construction against implicit repeal. This act being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.
W.S. § 40-14-105 Severability
0.3K chars
Severability. If any provision of this act or the application thereof to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this act which can be given effect without the invalid provision or application, and to this en…
W.S. § 40-14-106 Waiver; agreement to forego rights; settlement of claims; legal rate of interest; applicability
1.3K chars
Waiver; agreement to forego rights; settlement of claims; legal rate of interest; applicability. (a) Except as otherwise provided in this act, a buyer, lessee, or debtor may not waive or agree to forego rights or benefits under this act. (b) A claim by a buyer, lessee, or debtor …
W.S. § 40-14-107 Effect on powers of organizations
1.5K chars
Effect on powers of organizations. (a) This act prescribes maximum charges for all creditors, except lessors and those excluded (W.S. 40-14-121), extending consumer credit including consumer credit sales (W.S. 40-14-204) and consumer loans (W.S. 40-14-304), and displaces existing…
W.S. § 40-14-120 Territorial application
5.0K chars
Territorial application. (a) Except as otherwise provided in this section, this act applies to consumer credit transactions made in this state. For purposes of this act, a consumer credit transaction is made in this state if: (i) A signed writing evidencing the obligation or offe…
W.S. § 40-14-121 Exclusions
1.0K chars
Exclusions. (a) Except as required by W.S. 40-14-641, this act does not apply to: (i) Extensions of credit to government or governmental agencies or instrumentalities; (ii) Except as otherwise provided in the article on insurance [article 4], the sale of insurance by an insurer i…
W.S. § 40-14-140 General definitions
8.0K chars
General definitions. (a) In addition to definitions appearing in subsequent articles, in this act: (i) "Actuarial method" means the method, defined by rules adopted by the administrator, of allocating payments made on a debt between principal or amount financed and loan finance c…
W.S. § 40-14-141 Definition
0.2K chars
Definition. In this act "Federal Consumer Credit Protection Act" means the Consumer Credit Protection Act (Public Law 90-321; 82 U.S. Statutes 146), as amended, and includes regulations issued pursuant to that act.
W.S. § 40-14-142 Index of definitions
4.1K chars
Index of definitions. (a) Definitions in this act and the sections in which they appear are: (i) "Actuarial method"-W.S. 40-14-140(a)(i); (ii) "Administrator"-W.S. 40-14-140(a)(ii); (iii) "Administrator"-W.S. 40-14-603; (iv) "Agreement"-W.S. 40-14-140(a)(iii); (v) "Agricultural p…
W.S. § 40-14-201 Short title
0.1K chars
Short title. This article shall be known and may be cited as "Uniform Consumer Credit Code Credit Sales."
W.S. § 40-14-202 Scope; license required
0.3K chars
Scope; license required. (a) This article applies to consumer credit sales, including home solicitation sales and consumer leases. (b) Unless a person has first registered with the administrator, no person shall engage in the business of making consumer credit sales or consumer l…
W.S. § 40-14-203 Definitions
0.9K chars
Definitions. (a) The following definitions apply to this act and appear in this article as follows: (i) "Amount financed"-W.S. 40-14-211; (ii) Repealed By Laws 2008, Ch. 116, § 2. (iii) "Cash price"-W.S. 40-14-210; (iv) "Consumer credit sale"-W.S. 40-14-204; (v) "Consumer lease"-…
W.S. § 40-14-204 Definition of "consumer credit sale." (a) Except as provided in subsection (b) of this section, "consumer credit sale" is a sale of goods, services or an interest in land in which: (i) Credit is grant
1.4K chars
Definition of "consumer credit sale." (a) Except as provided in subsection (b) of this section, "consumer credit sale" is a sale of goods, services or an interest in land in which: (i) Credit is granted by a person who regularly engages as a seller in credit transactions of the s…
W.S. § 40-14-205 Additional definitions
1.8K chars
Additional definitions. (a) "Goods" includes a goods not in existence at the time the transaction is entered into and merchandise certificates, but excludes money, chattel paper, documents of title, and instruments. (b) "Merchandise certificate" means a writing issued by a seller…
W.S. § 40-14-206 (a) Definition of "consumer lease"
0.5K chars
(a) Definition of "consumer lease". "Consumer lease" means a lease of goods: (i) Which a lessor regularly engaged in the business of leasing makes to a person, other than an organization, who takes under the lease primarily for a personal, family or household purpose; (ii) In whi…
W.S. § 40-14-207 Definition of "seller"
0.3K chars
Definition of "seller". Except as otherwise provided, "seller" includes an assignee of the seller's right to payment but use of the term does not in itself impose on an assignee any obligation of the seller with respect to events occurring before the assignment.
W.S. § 40-14-208 Definition of "revolving charge account"
0.8K chars
Definition of "revolving charge account". (a) "Revolving charge account" means an arrangement between a seller and a buyer pursuant to which: (i) The seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card; (i…
W.S. § 40-14-209 (a) Definition of "credit service charge"
1.6K chars
(a) Definition of "credit service charge". "Credit service charge" means the sum of: (i) All charges payable directly or indirectly by the buyer and imposed directly or indirectly by the seller as a condition of or an incident to the extension of credit, including any of the foll…
W.S. § 40-14-210 Definition of "cash price"
0.6K chars
Definition of "cash price". "Cash price" means the price at which the creditor offers, in the ordinary course of business, to sell for cash the property or services which are the subject of a consumer credit transaction. It may include the cash price of accessories or services re…
W.S. § 40-14-211 Definition of "amount financed"
0.7K chars
Definition of "amount financed". (a) "Amount financed" means the total of the following items to the extent that payment is deferred: (i) The cash price of the goods, services, or interest in land, less the amount of any down payment whether made in cash or in property traded in;…
W.S. § 40-14-212 Credit service charge for consumer credit sales other than revolving charge accounts
3.2K chars
Credit service charge for consumer credit sales other than revolving charge accounts. (a) With respect to a consumer credit sale, other than a sale pursuant to a revolving charge account, a seller may contract for and receive a credit service charge not exceeding that permitted b…
W.S. § 40-14-213 Additional charges
1.6K chars
Additional charges. (a) In addition to the credit service charge permitted by this part, a seller may contract for and receive the following additional charges in connection with a consumer credit sale: (i) Official fees and taxes; (ii) Charges for insurance as described in subse…
W.S. § 40-14-214 Delinquency charges
1.2K chars
Delinquency charges. (a) With respect to a consumer credit sale, refinancing, or consolidation, the parties may contract for a delinquency charge on any installment not paid in full within ten (10) days after its scheduled due date in an amount not exceeding the greater of: (i) F…
W.S. § 40-14-215 Deferral charges
1.3K chars
Deferral charges. (a) With respect to a consumer credit sale, refinancing, or consolidation, the parties before or after default may agree in writing to a deferral of all or part of one (1) or more unpaid installments, and the seller may make and collect a charge which the buyer …
W.S. § 40-14-216 Credit service charge on refinancing
1.1K chars
Credit service charge on refinancing. (a) With respect to a consumer credit sale, refinancing, or consolidation, the seller may by agreement with the buyer refinance the unpaid balance and may contract for and receive a credit service charge based on the amount financed resulting…
W.S. § 40-14-217 Credit service charge on consolidation
1.1K chars
Credit service charge on consolidation. (a) If a buyer owes an unpaid balance to a seller with respect to a consumer credit sale, refinancing, or consolidation, and becomes obligated on another consumer credit sale, refinancing, or consolidation with the same seller, the parties …
W.S. § 40-14-218 accounts
2.4K chars
accounts. Credit service charge for revolving charge (a) With respect to a consumer credit sale made pursuant to a revolving charge account, the parties to the sale may contract for the payment by the buyer of a credit service charge not exceeding that permitted in this section. …
W.S. § 40-14-219 Advances to perform covenants of buyer
1.4K chars
Advances to perform covenants of buyer. (a) If the agreement with respect to a consumer credit sale, refinancing, or consolidation contains covenants by the buyer to perform certain duties pertaining to insuring or preserving collateral and the seller pursuant to the agreement pa…
W.S. § 40-14-220 Right to prepay
0.2K chars
Right to prepay. Subject to the provisions on rebate upon prepayment (W.S. 40-14-221), the buyer may prepay in full the unpaid balance of a consumer credit sale, refinancing, or consolidation at any time without penalty.
W.S. § 40-14-221 Rebate upon prepayment
2.6K chars
Rebate upon prepayment. (a) Except as provided in subsection (b) of this section, upon prepayment in full of the unpaid balance of a precomputed consumer credit sale, refinancing or consolidation, the unearned credit service charge shall be refunded based upon the Rule of 78's if…
W.S. § 40-14-222 Applicability; information required
0.6K chars
Applicability; information required. (a) For purposes of this part, consumer credit sale includes the sale of an interest in land without regard to the rate of the credit service charge if the sale is otherwise a consumer credit sale (W.S. 40-14-204). (b) Repealed by Laws 1982, c…
W.S. § 40-14-223 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-224 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-225 Statement of rate
1.5K chars
Statement of rate. (a) Repealed by Laws 1982, ch. 61, § 2. (b) Repealed by Laws 1982, ch. 61, § 2. (c) Repealed by Laws 1982, ch. 61, § 2. (d) Repealed by Laws 1982, ch. 61, § 2. (e) A statement of rate complies with this part if it does not vary from the accurately computed rate…
W.S. § 40-14-226 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-227 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-228 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-229 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-230 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-231 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-232 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-233 Repealed by Laws 1982, ch
0.0K chars
Repealed by Laws 1982, ch. 61, § 2.
W.S. § 40-14-234 Repealed by Laws 1982, ch
0.1K chars
Repealed by Laws 1982, ch. 61, § 2. Part 4. Limitations on Agreements and Practices
W.S. § 40-14-235 Scope; violations of federal Military Lending Act
0.4K chars
Scope; violations of federal Military Lending Act. (a) This part applies to consumer credit sales and consumer leases. (b) The administrator may seek an appropriate remedy, penalty, action or license revocation or suspension as provided in articles 5 and 6 of this chapter against…
W.S. § 40-14-236 Use of multiple agreements
0.6K chars
Use of multiple agreements. A seller may not use multiple agreements with intent to obtain a higher credit service charge than would otherwise be permitted by this article or to avoid disclosure of an annual percentage rate pursuant to the laws relating to disclosure and advertis…
W.S. § 40-14-237 Certain negotiable instruments prohibited
0.6K chars
Certain negotiable instruments prohibited. In a consumer credit sale or consumer lease the seller or lessor may not take a negotiable instrument other than a check as evidence of the obligation of the buyer or lessee. A holder is not in good faith if he takes a negotiable instrum…
W.S. § 40-14-238 When assignee not subject to defenses
2.7K chars
When assignee not subject to defenses. (a) With respect to a consumer credit sale or consumer lease an agreement by the buyer or lessee not to assert against an assignee a claim or defense arising out of the sale or lease is enforceable only by an assignee not related to the sell…