Wyoming Statutes
§ 26-23-331 — Notice of issuance of mortgagee policy
(a)A title insurer or title agent that issues a
mortgagee's policy of title insurance on a loan made
simultaneous to the purchase of all or part of the residential
property securing the loan, if no owner's policy has been
ordered, shall inform the borrower in writing that the
mortgagee's policy is to be issued, that the mortgagee's policy
does not protect the borrower and that the borrower may obtain
an owner's title insurance policy for his protection. This
notice shall be provided before disbursement of the loan
proceeds and before issuance of the mortgagee's policy. The
notice shall be on a form the commissioner prescribes.
(b)If the borrower elects not to purchase an owner's
title insurance policy, the title insurer or title agent shall
obtain from him a statement in writing that the
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Nearby Sections
15
§ 26-23-101
Overinsurance prohibited§ 26-23-102
Adjuster's reports of overinsurance and causes
of fire; reports deemed privileged communications§ 26-23-104
Terms of policies; extension§ 26-23-105
Exemptions§ 26-23-107
Cancellation and nonrenewal of homeowner's
insurance policies for natural causes restricted§ 26-23-301
Short title§ 26-23-303
Definitions§ 26-23-304
Corporate form required§ 26-23-305
Title insurers; authorized activities