Wyoming § 40-14-317 Advances to perform covenants of debtor

Wyoming Statutes

§ 40-14-317 — Advances to perform covenants of debtor

Wyoming § 40-14-317

Title 40Trade and Commerce

Ch. 14WYOMING UNIFORM CONSUMER CREDIT CODE

Art. 3LOANS

This text of Wyoming § 40-14-317 (Advances to perform covenants of debtor) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 40-14-317 (2026).

Text

(a)If the agreement with respect to a consumer loan, refinancing, or consolidation contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and if the lender pursuant to the agreement pays for performance of the duties on behalf of the debtor, the lender may add the amounts paid to the debt. Within a reasonable time after advancing any sums, he shall state to the debtor in writing the amount of the sums advanced, any charges with respect to this amount, and any revised payment schedule and, if the duties of the debtor performed by the lender pertain to insurance, a brief description of the insurance paid for by the lender including the type and amount of coverages. No further information need be given.

(b)A loan finance charge may be made

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(a) If the agreement with respect to a consumer loan,
refinancing, or consolidation contains covenants by the debtor
to perform certain duties pertaining to insuring or preserving
collateral and if the lender pursuant to the agreement pays for
performance of the duties on behalf of the debtor, the lender
may add the amounts paid to the debt. Within a reasonable time
after advancing any sums, he shall state to the debtor in
writing the amount of the sums advanced, any charges with
respect to this amount, and any revised payment schedule and, if
the duties of the debtor performed by the lender pertain to
insurance, a brief description of the insurance paid for by the
lender including the type and amount of coverages. No further
information need be given.
(b) A loan finance charge may be made for sums advanced
pursuant to subsection (a) of this section at a rate not
exceeding the rate stated to the debtor pursuant to the laws
relating to disclosure with respect to the loan, refinancing, or
consolidation, except that with respect to a revolving loan
account the amount of the advance may be added to the unpaid
balance of the debt and the lender may make a loan finance
charge not exceeding that permitted by the provisions on loan
finance charge for consumer loans (W.S. 40-14-310).