§ 40-14-304 — Definition of "consumer loan"; interests in land

(a) Except with respect to a loan primarily secured by an
interest in land, "consumer loan" is a loan made by a person
regularly engaged in the business of making loans in which:
(i) The debtor is a person other than an
organization;
(ii) The debt is incurred primarily for a personal,
family or household purpose;
(iii) Either the debt is payable in installments or a
loan finance charge is made; and
(iv) The principal does not exceed seventy-five
thousand dollars ($75,000.00).
(b) Repealed by Laws 1981, ch. 147, § 2.
(c) "Loan primarily secured by an interest in land" means
a loan made for the purpose of purchasing or acquiring ownership
of land and appurtenances, including structures affixed to the
land, and which is secured by a first mortgage lien. A loan
primarily secured by an interest in land is not a consumer loan,
except that W.S. 40-14-320, 40-14-323, 40-14-354 and 40-14-520
through 40-14-524 shall apply to loans primarily secured by an
interest in land.