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Licensing
& Registration
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There are two types of Uniform Consumer Credit Code creditors:
1. Registered: Persons who provide
for goods and /or services on a credit basis (This also could
include persons who provide "cash" loans whose rate does
not exceed 10% per year.)
Non-lender creditors -
Any business that sells merchandise on credit.
Retail merchants such as appliance, jewelry and furniture stores.
Dealerships such as auto, boat, motorcycle, motor home, mobile
home, ATV, and RV's.
Professionals - Any
business that sells services on credit.
Doctors, lawyers,
veterinarians, accountants, dentists, hospitals, etc.
2. Licensed: Persons
who make "cash" loans whose rate exceeds 10% per year; or
persons who take assignment of cash loans whose rate exceeds 10% per
year; or persons who take formal assignment of retail sales
contracts (regardless of the interest rate).
Supervised Lenders - Finance Companies;
Pawn Shops; Residential Mortgage Companies; Rent to Own;
Post-dated Check Cashers.
Sales Finance Companies - Primarily
engaged in consumer credit activity of taking by assignment or
financing in behalf of sellers or lessors (retail consumer sales
transactions).
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License
and Registration Application Forms
| Application forms, reference forms and
instructions to complete the forms to license supervised
lenders, sales finance companies, rent-to-own merchants,
post-dated check cashers, and pawn brokers doing
business in Wyoming are being provided in a .PDF format.
All forms are formatted for letter-size paper (8
1/2 by 11 inch).
Licensed Activities
Supervised Lenders -
Supervised Lenders are entities
that originate cash loans with rates that exceed 10% per
year (supervised loans), purchase supervised loans, or
purchase retail installment contracts originated by a
retail creditor. Every location where business is
regularly conducted must be licensed. No license
is required if annually your company conducts less than
five (5) loans secured by real estate or less than
twenty five (25) unsecured loans.
Sales Finance
Companies - Sales Finance Companies
are entities whose only business
is purchasing retail installment contracts which have
been originated by a retail creditor. Sales Finance
Companies purchase loans from retail merchants or take
loans by assignment which have been originated by
another creditor.
Post-dated
Check Cashers -
Post-dated check
cashers are entities that make post-dated check
loans. Each branch is licensed individually and
each store front is licensed. Some businesses
conduct Internet activities.
Pawn
Brokers -
Pawn Brokers are
entities that conduct pawn activities. All
physical locations in Wyoming that conduct pawn
activities are licensed.
Rent-to-Own
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Rent-to-Own entities offer merchandise
under rental-purchase agreements. Physical
locations that conduct rent-to-own activities in Wyoming
are licensed.
Registration
Non-Lender Creditors and Professionals Registration Form
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ADOBE READER
These forms are being provided in a .PDF format - you must have
Adobe Reader to open and print these files. You may obtain
the free Adobe Reader which will let you view and print PDF files
on all major computer platforms by clicking on the "Get Adobe
Reader" icon below.
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March 1, 2011
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