§ 40-14-209 — Definition of "credit service charge"

(a) "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 following types of charges which are
applicable: time price differential, service, carrying or other
charge however denominated, premium or other charge for any
guarantee or insurance protecting the seller against the buyer's
default or other credit loss; and
(ii) Charges incurred for investigating the
collateral or credit-worthiness of the buyer or for commissions
or brokerage for obtaining the credit, irrespective of the
person to whom the charges are paid or payable, unless the
seller had no notice of the charges when the credit was granted.
(b) Credit service charge does not include:
(i) Charges as a result of default;
(ii) Additional charges pursuant to W.S. 40-14-213;
(iii) Delinquency charges specified by W.S.
40-14-214;
(iv) Deferral charges pursuant to W.S. 40-14-215;
(v) A discount not in excess of five percent (5%)
offered by a seller for purposes of inducing payment by cash,
check or other means not involving the use of a seller or lender
credit card, if the discount is offered to all prospective
buyers and its availability is disclosed clearly and
conspicuously in accordance with the federal Consumer Credit
Protection Act, P.L. 90-321, 82 Stat. 146, 15 U.S.C. § 470 et
seq.; or
(vi) Reasonable credit application fees whether or
not credit is extended.