40-14-261. Definitions; prohibited assignments; applicable provisions. (a) 'Sales financing' means being primarily engaged in the business of taking by assignment or providing financing on behalf of sellers or lessors. Assignment under this subsection shall only include non-servicing rights against debtors arising from consumer credit sales or consumer leases which at the time of assignment the buyer or lessee is not in default. (b) 'Sales finance company' means a person or organization engaged in the business of sales financing. (c) Unless a person is a supervised financial organization, is licensed under W.S. 40-14-302(b) or has first obtained a license from the administrator, no person shall engage in sales financing. (d) Repealed By Laws 1996, ch. 86, 3.
Wyoming Legal Code