021-1 Wyo. Code R. § 1-9

Current through April 27, 2019

Section 1-9 - Insurance Refunds

(a) If insurance terminates prior to the end of the term for which it was written because of prepayment in full of the consumer credit transaction,

• (i) And if the contract is held by the original creditor he shall make a prompt refund of unearned premium directly to the debtor, or

• (ii) If the contract has been assigned, the assignee shall make a prompt refund of the unearned premium directly to the debtor, or send a notice in substantially the following form to the original creditor via U.S. mail with a copy to the consumer and retain a copy in its files:

  Date ........................................

  Dear ........................................

  The account of your customer .................................... (consumer & address) ............ was paid in full on ............. (date) .......

  Under Wyoming law the consumer is entitled to a refund of unearned credit insurance premiums. You must obtain a prompt refund from the insurer or make the refund yourself.

  Signed ......................................................

  (Assignee)

  Notice to Consumer

  If you have difficulty obtaining the refund to which you are entitled contact:

  Administrator

  Wyoming Division of Banking - Uniform Consumer Credit Code

  122 West 25^th Street, 3^rd Floor West

  Cheyenne, Wyoming 82002

  Phone:307-777-7797

021-1 Wyo. Code R. § 1-9

Amended, Eff. 2/22/2017.