Wyoming § 40-14-450 Property insurance

Wyoming Statutes

§ 40-14-450 — Property insurance

Wyoming § 40-14-450

Title 40Trade and Commerce

Ch. 14WYOMING UNIFORM CONSUMER CREDIT CODE

Art. 4INSURANCE

This text of Wyoming § 40-14-450 (Property 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. § 40-14-450 (2026).

Text

(a)A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless:

(i)The insurance covers a substantial risk of loss of or damage to property related to the credit transaction;

(ii)The amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and

(iii)The term of the insurance is reasonable in relation to the terms of credit.

(b)The term of the insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.

(c)A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless the amount financed or principal exclusive of changes for the insurance is

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(a) A creditor may not contract for or receive a separate
charge for insurance against loss of or damage to property
unless:
(i) The insurance covers a substantial risk of loss
of or damage to property related to the credit transaction;
(ii) The amount, terms, and conditions of the
insurance are reasonable in relation to the character and value
of the property insured or to be insured; and
(iii) The term of the insurance is reasonable in
relation to the terms of credit.
(b) The term of the insurance is reasonable if it is
customary and does not extend substantially beyond a scheduled
maturity.
(c) A creditor may not contract for or receive a separate
charge for insurance against loss of or damage to property
unless the amount financed or principal exclusive of changes for
the insurance is three hundred dollars ($300.00) or more, and
the value of the property is three hundred dollars ($300.00) or
more.