Wyoming § 40-14-407 Maximum charge by creditor for insurance

Wyoming Statutes

§ 40-14-407 — Maximum charge by creditor for insurance

Wyoming § 40-14-407

Title 40Trade and Commerce

Ch. 14WYOMING UNIFORM CONSUMER CREDIT CODE

Art. 4INSURANCE

This text of Wyoming § 40-14-407 (Maximum charge by creditor for insurance) 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. § 40-14-407 (2026).

Text

(a)Except as provided in subsection (b) of this section, if a creditor contracts for or receives a separate charge for insurance, the amount charged to the debtor for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the debtor is determined, conforming to any rate filings required by law and made by the insurer with the commissioner of insurance.

(b)A creditor who provides consumer credit insurance in relation to a revolving charge account (W.S. 40-14-208) or revolving loan account (W.S. 40-14-308) may calculate the charge to the debtor in each billing cycle by applying the current premium rate to:

(i)The average daily unpaid balance of the debt in the cycle;

(ii)The unpaid balance of the debt or a median amount within a speci

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(a) Except as provided in subsection (b) of this section,
if a creditor contracts for or receives a separate charge for
insurance, the amount charged to the debtor for the insurance
may not exceed the premium to be charged by the insurer, as
computed at the time the charge to the debtor is determined,
conforming to any rate filings required by law and made by the
insurer with the commissioner of insurance.
(b) A creditor who provides consumer credit insurance in
relation to a revolving charge account (W.S. 40-14-208) or
revolving loan account (W.S. 40-14-308) may calculate the charge
to the debtor in each billing cycle by applying the current
premium rate to:
(i) The average daily unpaid balance of the debt in
the cycle;
(ii) The unpaid balance of the debt or a median
amount within a specified range of unpaid balances of debt on
approximately the same day of the cycle. The day of the cycle
need not be the day used in calculating the credit service
charge (W.S. 40-14-218) or loan finance charge (W.S. 40-14-310),
but the specified range shall be the range used for that
purpose; or
(iii) The unpaid balances of principal calculated
according to the actuarial method.