Wyoming § 26-21-106 Term of insurance

Wyoming Statutes

§ 26-21-106 — Term of insurance

Wyoming § 26-21-106

Title 26Insurance Code

Ch. 21CREDIT LIFE AND DISABILITY INSURANCE

This text of Wyoming § 26-21-106 (Term of insurance) 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. § 26-21-106 (2026).

Text

(a)The term of any credit life insurance or credit disability insurance, subject to the insurer's acceptance, commences on the date when the debtor becomes obligated to the creditor, or the date when the debtor applies for the insurance, whichever is later, except that if a group policy provides coverage with respect to the existing obligations, the insurance on a debtor with respect to the indebtedness commences on the effective date of the policy.

(b)If evidence of insurability is required and that evidence is furnished more than thirty (30) days after the date when the debtor becomes obligated to the creditor, the term of the insurance may commence on the date on which the insurer determines the evidence to be satisfactory, and in that case there shall be an appropriate refund or adju

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(a) The term of any credit life insurance or credit
disability insurance, subject to the insurer's acceptance,
commences on the date when the debtor becomes obligated to the
creditor, or the date when the debtor applies for the insurance,
whichever is later, except that if a group policy provides
coverage with respect to the existing obligations, the insurance
on a debtor with respect to the indebtedness commences on the
effective date of the policy.
(b) If evidence of insurability is required and that
evidence is furnished more than thirty (30) days after the date
when the debtor becomes obligated to the creditor, the term of
the insurance may commence on the date on which the insurer
determines the evidence to be satisfactory, and in that case
there shall be an appropriate refund or adjustment of any charge
to the debtor for insurance. The term of the insurance shall not
extend more than fifteen (15) days beyond the scheduled maturity
date of the indebtedness except when extended without additional
cost to the debtor.
(c) If the indebtedness is discharged because of renewal
or refinancing prior to the scheduled maturity date, the
insurance in force shall be terminated before any new insurance
may be issued in connection with the renewed or refinanced
indebtedness.
(d) In all cases of termination prior to scheduled
maturity, a refund shall be paid or credited as provided in W.S.