2019 Wyoming Statutes
Title 40 - Trade and Commerce
Chapter 14 - Wyoming Uniform Consumer Credit Code
Article 1 - General Provisions and Definitions
Section 40-14-102 - Purposes; Rules of Construction.
40-14-102. Purposes; rules of construction.
(a) This act shall be liberally construed and applied to promote its underlying purposes and policies.
(b) The underlying purposes and policies of this act are:
(i) To simplify, clarify and modernize the law governing retail installment sales, consumer credit, small loans and usury;
(ii) To provide rate ceilings to assure an adequate supply of credit to consumers;
(iii) To further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers may obtain credit at reasonable cost;
(iv) To protect consumer buyers, lessees, and borrowers against unfair practices by some suppliers of consumer credit, having due regard for the interests of legitimate and scrupulous creditors;
(v) To permit and encourage the development of fair and economically sound consumer credit practices;
(vi) To conform the regulation of consumer credit transactions to the policies of the federal Consumer Credit Protection Act; and
(vii) To make uniform the law, including administrative rules, among the various jurisdictions.
(c) A reference to a requirement imposed by this act includes reference to a related rule of the administrator adopted pursuant to this act.