Wyoming Statutes
§ 40-14-407 — Maximum charge by creditor for insurance
(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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Nearby Sections
15
§ 40-14-101
Short title§ 40-14-102
Purposes; rules of construction§ 40-14-104
Construction against implicit repeal§ 40-14-105
Severability§ 40-14-106
Waiver; agreement to forego rights; settlement
of claims; legal rate of interest; applicability§ 40-14-107
Effect on powers of organizations§ 40-14-120
Territorial application§ 40-14-121
Exclusions§ 40-14-140
General definitions§ 40-14-141
Definition§ 40-14-142
Index of definitions§ 40-14-201
Short title§ 40-14-202
Scope; license required§ 40-14-203
Definitions