§ 26-24-104 — Articles of incorporation; generally; filing; approval procedure

Wyoming § 26-24-104

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 24: ORGANIZATION AND CORPORATE PROCEDURES OF LEGAL

Text

(a) The incorporators of a proposed domestic insurer shall
deliver the triplicate originals of the articles of
incorporation to the commissioner. The commissioner shall
deliver one (1) of the originals to the attorney general of this
state, and the attorney general shall examine the articles. If
the attorney general finds that the articles comply with law, he
shall so certify and return the certificate and the original
articles of incorporation to the commissioner.
(b) If the attorney general approves the articles of
incorporation, the commissioner shall also endorse his approval
upon each set of the articles and return them, together with the
attorney general's certificate, to the incorporators. The
incorporators shall then file one (1) set of the articles of
incorporation with the secretary of state, one (1) set with the
commissioner bearing the certification of the secretary of state
and shall retain the third set in the corporate records. For the
filing of articles of incorporation of a mutual insurer, the
secretary of state shall charge and collect a filing fee of
twenty-five dollars ($25.00), which shall be credited to the
general fund.
(c) If the attorney general finds that the proposed
articles do not comply with the law, he shall refuse to approve
them and shall return the set thereof to the commissioner,
together with a written statement of the respects in which he
finds the articles do not comply. The commissioner shall then
return all sets of the proposed articles to the proposed
incorporators together with the attorney general's written
statement.
(d) The secretary of state shall not permit the filing in
that office of any articles of incorporation unless they bear
the commissioner's approval endorsed thereon as provided in
subsection (b) of this section.
(e) The approval of the attorney general or commissioner
relates only to the form and contents of the articles of
incorporation and does not constitute approval or commitment as
to any other aspect or operation of the proposed insurer.
(f) The attorney general and the commissioner shall
perform all duties required of them under this section within a
reasonable time after the articles of incorporation have been
submitted to the commissioner as provided in subsection (a) of
this section.