Wyoming § 26-16-503 Insurer issuing participating and
nonparticipating policies; records

Wyoming Statutes

§ 26-16-503 — Insurer issuing participating and nonparticipating policies; records

Wyoming § 26-16-503

Title 26Insurance Code

Ch. 16LIFE INSURANCE AND ANNUITY CONTRACTS

This text of Wyoming § 26-16-503 (Insurer issuing participating and nonparticipating policies; records) 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. § 26-16-503 (2026).

Text

(a)Any life insurer issuing both participating and nonparticipating policies shall maintain any accounting records necessary for it to determine dividends to participating policyholders on an equitable basis.

(b)In the accounting records the insurer shall make a reasonable allocation as between participating and nonparticipating policies of the expenses of the general operations or functions as are jointly shared. Any allocation of expense as between categories shall be made upon a reasonable basis, to the end that each category shall bear a just portion of joint expense involved in the administration of the business of that category.

(c)No policy shall provide for and no life insurer or representative shall knowingly offer or promise payment, credit, or distribution of participating "d

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(a) Any life insurer issuing both participating and
nonparticipating policies shall maintain any accounting records
necessary for it to determine dividends to participating
policyholders on an equitable basis.
(b) In the accounting records the insurer shall make a
reasonable allocation as between participating and
nonparticipating policies of the expenses of the general
operations or functions as are jointly shared. Any allocation of
expense as between categories shall be made upon a reasonable
basis, to the end that each category shall bear a just portion
of joint expense involved in the administration of the business
of that category.
(c) No policy shall provide for and no life insurer or
representative shall knowingly offer or promise payment, credit,
or distribution of participating "dividends", "earnings",
"profits" or "savings", by whatever name called, to
participating policies out of the profits, earnings or savings
on nonparticipating policies. This provision does not restrict
the generality of W.S. 26-13-110.