Wyo. Stat. Ann. § 40-14-304
Definition of "consumer loan"; interests in land
Redline — May 1, 2021 → current.View current text →
Current — September 1, 2021
As of May 1, 2021
(1) Except with respect to a loan primarily secured by an interest in land, “consumer loan” is a loan made by a person regularly engaged in the business of making loans in which: The debtor is a person other than an organization;
(1) Except with respect to a loan primarily secured by an interest in land, “consumer loan” is a loan made by a person regularly engaged in the business of making loans in which: The debtor is a person other than an organization;
(2) The debt is incurred primarily for a personal, family or household purpose;
(2) The debt is incurred primarily for a personal, family or household purpose;
(3) Either the debt is payable in installments or a loan finance charge is made; and
(3) Either the debt is payable in installments or a loan finance charge is made; and
(4) Either the principal does not exceed seventy-five thousand dollars ($75,000.00) or the debt is secured by an interest in land or a dwelling, as defined in W.S. 40-14-640(a)(iv), located in Wyoming.
(4) The principal does not exceed seventy-five thousand dollars ($75,000.00).
(5) Repealed by Laws 1981, ch. 147, § 2.
(5) Repealed by Laws 1981, ch. 147, § 2.
(6) “Loan primarily secured by an interest in land” means a loan made for the purpose of purchasing or acquiring ownership of land and appurtenances, including structures affixed to the land, and which is secured by a first mortgage lien. A loan primarily secured by an interest in land is not a consumer loan, except that W.S. 40-14-320, 40-14-323, 40-14-354 and 40-14-520 through 40-14-524 shall apply to loans primarily secured by an interest in land.
Official source: Wyoming Legislature. Reproduced from public-domain Wyoming statutes; confirm against the official source for the current text. Not legal advice.