§ 40-14-309 — Definition of "loan finance charge"

(a) "Loan finance charge" means the sum of:
(i) All charges payable directly or indirectly by the
debtor and imposed directly or indirectly by the lender as a
condition of or an incident to the extension of credit,
including any of the following types of charges which are
applicable: interest or any amount payable under a point,
discount, or other system of charges, however denominated,
premium or other charge for any guarantee or insurance
protecting the lender against the debtor's default or other
credit loss; and
(ii) Charges incurred for investigating the
collateral or credit-worthiness of the debtor or for commissions
or brokerage for obtaining the credit, irrespective of the
person to whom the charges are paid or payable, unless the
lender had no notice of the charges when the loan was made.
(b) The term does not include charges as a result of
default, additional charges (W.S. 40-14-311), delinquency
charges (W.S. 40-14-312), deferral charges (W.S. 40-14-313) or
reasonable credit application fees whether or not credit is
extended.
(c) If a lender makes a loan to a debtor by purchasing or
satisfying obligations of the debtor pursuant to a lender credit
card or similar arrangement, and the purchase or satisfaction is
made at less than the face amount of the obligation, the
discount is not part of the loan finance charge.
Part 2. Maximum Charges