Wyo. Code R. 021-0007-3
Uniform Consumer Credit Code
Chapter 3: Wyoming Consumer Rental-Purchase Agreement Act
Effective Date: 10/15/2025 to Current
Rule Type: Current Rules & Regulations
Reference Number: 021.0007.3.10152025
The Rules governing the Wyoming Consumer Rental-Purchase Agreement Act are adopted pursuant to W.S. 40-19-118(b).
(a) As used in this Chapter and the Wyoming Consumer Rental-Purchase Agreement Act:
(i) All of the definitions set forth in W.S. 40-19-102 are incorporated herein by reference.
(ii) 'Financial statement' means any report summarizing the financial condition or financial results of an applicant on any date or for any period. Financial statements include the balance sheet and the income statement.
(iii) 'Initial period' means from the date of inception to the first scheduled payment.
(iv) 'Monthly' means each calendar month. Monthly payments shall expire on the same date in the succeeding month if there is such a date, otherwise on the last day of the succeeding month. If the payment due date is not a business day, the periodic payment shall expire on the next business day.
(v) 'Regularly provides' means providing the use of property under rental-purchase agreements, but only if the merchant made more than twenty-five (25) such agreements in the preceding calendar year. If a merchant did not meet these numerical standards in the preceding calendar year, the numerical standards shall be applied to the current calendar year.
(vi) 'Weekly' means every seven (7) consecutive calendar days. Weekly payments shall expire on the same day in the succeeding week. If the payment due date is not a business day, the periodic payment shall expire on the next business day.
(a) Any merchant who regularly provides the use of property under rental-purchase agreements shall apply for a license to conduct business as a rental-purchase merchant. Each applicant shall provide all of the information required on the license application form prescribed by the Commissioner, as applicable.
(b) The completed application shall be accompanied by a processing fee of three hundred dollars ($300.00), made payable to the Department of Audit.
(a) A license to engage in the business as a rental-purchase merchant will be issued to an applicant if the Commissioner, upon investigation and evaluation of the completed application and all other relevant information, determines that all of the requirements of W.S. 40-19-114 have been met.
(b) The Commissioner may deny an application to engage in the business as a rental-purchase merchant if the Commissioner, upon investigation and evaluation of the completed application and all other relevant information, determines that:
(i) The applicant has not satisfied the requirements of W.S. 40-19-114;
(ii) The applicant has violated any provision of W.S. 40-19-101 through W.S. 40-19-120;
(iii) The applicant has violated any state or federal law applicable to the conduct of the business of a rental-purchase merchant including, but not limited to, any rule, regulation or administrative order or directive promulgated thereunder;
(iv) The applicant has conducted, or from the information provided it appears to the Commissioner that the applicant will conduct, its business in an unsafe and unsound manner; or
(v) The applicant has engaged in conduct which has resulted in the suspension or revocation of its license to engage in the business as a rental-purchase merchant by the licensing authority of any other state.
(c) An applicant whose application has been denied under subsection (b) may request a contested case hearing under Chapter 4 of these Rules.
(d) The applicant shall list each place of business that is a physical location and pay a license fee of one hundred dollars ($100.00) per place of business that is a physical location.
(e) If the applicant will display or offer rental-purchase property through an independent third-party retailer then the license application shall disclose the names and addresses of each independent third-party retailer which displays or offers rental-purchase property for the applicant and the applicant shall pay a fee of three hundred dollars ($300.00).
(f) If the applicant's only place of business is an online presence per W.S. 40-19-114(e)(iii) then the applicant shall pay a license fee of three hundred dollars ($300.00).
(a) Pursuant to W.S. 40-19-114(h), if the merchant wishes to move to another location, the merchant shall:
(i) Give at least thirty (30) days written notice to the Commissioner; and, (ii) Pay a license modification fee of fifty dollars ($50.00) for each license required to be modified, made payable to the Department of Audit.
(a) As required by W.S. 40-19-114(j), merchants licensed under the Wyoming Consumer Rental-Purchase Agreement Act shall pay an annual license renewal fee that shall include the following:
(i) A renewal fee of one hundred dollars ($100.00) per place of business which is a physical location;
(ii) A renewal fee of three hundred dollars ($300.00) if the applicant displays or offers rental purchase property through an independent third-party retailer location; and
(iii) A renewal fee of three hundred dollars ($300.00) if the applicant’s only place of business is an online presence.
(a) In addition to rental payments, a merchant may contract for and receive the following additional charges in connection with a rental-purchase agreement:
(i) A reinstatement fee pursuant to W.S. 40-19-108(a)(xi). The reinstatement fee may not exceed the greater of 5% of the delinquent payment or two dollars ($2.00). Only one reinstatement fee may be assessed and collected on any delinquent payment, regardless of how long the payment remains unpaid;
(ii) An optional pickup fee not to exceed twenty dollars ($20.00) for three (3) or fewer items or forty dollars ($40.00) for four (4) or more items that are actually picked up;
(iii) An optional redelivery fee not to exceed twenty dollars ($20.00) for three (3) or fewer items or forty dollars ($40.00) for four (4) or more items that are actually redelivered;
(iv) A liability damage waiver fee may be contracted for and received pursuant to W.S. 40-19-111(a).
A notice in substantially the following form complies with the requirement in W.S. 40-19-109(b):
(Name, address and telephone number of merchant)
(Brief description of transaction)
(Date) is LAST DATE FOR PAYMENT (Amount) is the AMOUNT DUE NOW
You have failed to renew your rental agreement(s). If you pay the AMOUNT DUE NOW (above) by the LAST DATE FOR PAYMENT (above), you may continue with the contract as though you had renewed on time. If you do not pay by that date, we may exercise our rights under the law. You may be required to pay reasonable costs authorized by law.
PLEASE NOTE: As of the LAST DATE FOR PAYMENT (above) you will owe the following additional payments:
(date due)
(amount)
In order to cure your account fully, the payment or payments listed above must also be paid in full on or before the LAST DATE FOR PAYMENT. If you have questions, promptly write or telephone (name of merchant).