§46A-1-103. Effect of chapter on powers of persons making
consumer credit sales and consumer loans, and
others; consumer protection generally.
(1) This chapter prescribes maximum charges for all creditors,
except lessors and those excluded, making consumer credit sales and
consumer loans, and sales and loans made subject to the provisions
of this chapter by agreement, and except as otherwise provided by
this chapter displaces any existing limitations and provisions
regulating maximum interest and charges, minimum charges,
additional charges, delinquency charges, deferral charges,
allocation of charges and methods of computing rebates upon
prepayment, refinancing or consolidation with respect to consumer
credit sales and consumer loans, and the debtors' remedies and
penalties provided by this chapter displace all existing provisions
relating to remedies, penalties and forfeitures for usury and
usurious contracts as to transactions covered by this chapter.
(2) Except as provided in subsection (1) of this section or
elsewhere in this chapter, this chapter does not displace powers or
limitation on powers which supervised financial organizations are
authorized to exercise under the laws of the United States or other
laws of this state in effect after the operative date of this
(3) This chapter also prescribes in various articles
protective measures for consumers in transactions not necessarily
involving consumer credit.
Note: WV Code updated with legislation passed through the 2013 1st Special Session
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