HB0297 - UCCC-credit card rates.

 

2001

State of Wyoming

01LSO-0481

 

 

 

HOUSE BILL NO.  HB0297

 

 

UCCC-credit card rates.

 

Sponsored by:  Representative(s) Paseneaux, Childers,
Simons and Wostenberg

 

 

A BILL

 

for

 

 1  AN ACT relating to the Wyoming Uniform Consumer Credit
 2  Code; modifying maximum loan finance charges imposed upon
 3  supervised consumer loans including revolving loan
 4  accounts; and providing for an effective date.

 5 

 6  Be It Enacted by the Legislature of the State of Wyoming:

 7 

 8         Section 1.  W.S. 40-14-348(b)(i)(B) is amended to
 9  read:

10 

11         40-14-348.  Loan finance charge.

12 

13         (b)  The loan finance charge, calculated according to
14  the actuarial method, may not exceed:

15 

 

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 1              (i)  Where the initial principal does not exceed
 2  fifty thousand dollars ($50,000.00), the equivalent of the
 3  greater of either of the following:

 4 

 5                   (B)  Twenty-one percent (21%) twelve percent
 6  (12%) per year on that part of the unpaid balances of the
 7  principal.

 8 

 9         Section 2.  W.S. 40-14-348(b)(i)(A) is repealed.

10 

11         Section 3.  This act is effective July 1, 2001.

12 

13                         (END)

 

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