WY LEG Rental Purchase Agreements

Published on: Mar 5, 2025

On Mar. 3, WY LEG reported bill on third-party rental agreements.

  • WY approved bill SF 146, Consumer rental purchase agreement act-amendments.
  • Made amendments to WY LEG 40-19-40-19-102 through WY LEG 40-19-40-19-118.
  • Document dated Mar. 7, 2025, received Mar. 3, 2025, summarized on Mar. 5, 2025.
  • Bill Provisions
  • The act amends the existing consumer rental purchase agreements statutes to allow for rental purchase agreements at independent third-party retail locations and online.
  • Provides requirements and limitations for online rental purchase agreements and updates license fees and the manner of investigating merchants for violations.
  • Legislative History
  • On Jan. 24, 2025, bill introduced in Senate; on Feb. 3, 2025, bill passed in the Senate.
  • On Feb. 14, 2025, bill introduced in House; on Feb. 26, 2025, bill passed in the House.
  • On Feb. 26, 2025, assigned SEA 0042; on Feb. 28, 2025, governor signed as Ch. 75.
  • Effectiveness
  • Provisions of Chapter 75 will come into effect on Jul. 1, 2025.
Regulators
WY LEG
Entity Types
CNSM; Corp
Reference
PR, 3/7/2025; Act 75, SEA No. 0042, Bill SF146, 2/28/2025; Citation: *WY LEG* 40-19-40-19-102, 40-19-40-19-118;
Functions
Compliance; Financial; Legal; Registration/Licensing
Countries
United States of America
Category
State
N/A
Products
Corporate; Mortgage
Rule Type
Final
Regions
Am
Rule Date
Mar 3, 2025
Effective Date
Jul 1, 2025
Rule ID
245637
Linked to
N/A
Reg. Last Update
Mar 3, 2025
Report Section
US Consumer