Wyoming § 26-15-133 Retention of proceeds of policy by company

Wyoming Statutes

§ 26-15-133 — Retention of proceeds of policy by company

Wyoming § 26-15-133

Title 26Insurance Code

Ch. 15THE INSURANCE CONTRACT

This text of Wyoming § 26-15-133 (Retention of proceeds of policy by company) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 26-15-133 (2026).

Text

(a)Any life insurer may hold the proceeds of any life or endowment insurance or annuity contract it issues:

(i)Upon the terms and restrictions as to revocation by the insured and control by beneficiaries;

(ii)With the exemptions from legal process and the claims of creditors of beneficiaries, other than the insured; and

(iii)Upon any other terms and conditions, regardless of the time and manner of payment of proceeds, agreed to in writing by the insurer and the insured or beneficiary.

(b)The insurer is not required to segregate funds held under subsection (a) of this section but may hold them as a part of its general corporate assets.

(c)The provisions of this section do not impair or affect any rights of creditors under W.S. 26-15-129 or 26-15-132.

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(a) Any life insurer may hold the proceeds of any life or
endowment insurance or annuity contract it issues:
(i) Upon the terms and restrictions as to revocation
by the insured and control by beneficiaries;
(ii) With the exemptions from legal process and the
claims of creditors of beneficiaries, other than the insured;
and
(iii) Upon any other terms and conditions, regardless
of the time and manner of payment of proceeds, agreed to in
writing by the insurer and the insured or beneficiary.
(b) The insurer is not required to segregate funds held
under subsection (a) of this section but may hold them as a part
of its general corporate assets.
(c) The provisions of this section do not impair or affect
any rights of creditors under W.S. 26-15-129 or 26-15-132.