§ 40-14-107 — Effect on powers of organizations

Wyoming § 40-14-107

• Jurisdiction: Wyoming
• Title 40: Trade and Commerce
• Ch. 14: WYOMING UNIFORM CONSUMER CREDIT CODE
• Art. 1: GENERAL PROVISIONS AND DEFINITIONS

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(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
limitations on the powers of those creditors based on maximum
charges.
(b) With respect to sellers of goods or services, small
loan companies, licensed lenders, consumer and sales finance
companies, industrial banks and loan companies and commercial
banks and trust companies, this act displaces existing
limitations on their powers based solely on amount or duration
of credit.
(c) Except as provided in subsection (a) of this section,
this act does not displace limitations on powers of credit
unions, savings banks, savings and loan associations, or other
thrift institutions whether organized for the profit of
shareholders or as mutual organizations.
(d) Except as provided in subsections (a) and (b) of this
section, this act does not displace:
(i) Limitations on powers of supervised financial
organizations defined by W.S. 40-14-140(a)(xix) with respect to
the amount of a loan to a single borrower, the ratio of a loan
to the value of collateral, the duration of a loan secured by an
interest in land or other similar restrictions designed to
protect deposits; or
(ii) Limitations on powers an organization is
authorized to exercise under the laws of this state or the
United States.
Part 2. Scope and Jurisdiction