The bill amends the Wyoming Consumer Rental-Purchase Agreement Act to modernize licensing requirements and incorporate digital agreements. It introduces a new definition for "rental-purchase property" and allows for rental-purchase agreements to be provided in a digital format. The bill also mandates that merchants disclose specific information in these agreements, including the terms for terminating the agreement and the option for a liability damage waiver, which can also be offered in a digital format. Additionally, it allows for the inspection of merchants' records by the administrator, enhancing oversight and compliance.

Key changes include the requirement for merchants to obtain a single statewide license for online transactions while still needing separate licenses for physical locations. The bill also establishes penalties for violations, including administrative fines and the potential for license suspension or revocation. The effective date for these changes is set for July 1, 2023.

Statutes affected:
Introduced: 40-19-102, 40-19-107, 40-19-111, 40-19-113, 40-19-114, 40-19-118