Wyoming § 26-24-107 Stock of domestic insurer to be paid for in
cash; exceptions

Wyoming Statutes

§ 26-24-107 — Stock of domestic insurer to be paid for in cash; exceptions

Wyoming·Title 26 Insurance Code·Ch. 24 ORGANIZATION AND CORPORATE PROCEDURES OF LEGAL

(a)Except where issued in exchange for other securities for purposes of merger, bulk reinsurance, acquisition of control of another insurer as provided for in this chapter or as stock dividend on a split of stock, no domestic stock insurer shall issue its shares except upon payment in full of the subscription price thereof, not less than par value, in cash.

(b)The value at which any such consideration, other than money, shall be carried in the insurer's financial statement shall be determined as provided in W.S. 26-6-301 through

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(a) Except where issued in exchange for other securities
for purposes of merger, bulk reinsurance, acquisition of control
of another insurer as provided for in this chapter or as stock
dividend on a split of stock, no domestic stock insurer shall
issue its shares except upon payment in full of the subscription
price thereof, not less than par value, in cash.
(b) The value at which any such consideration, other than
money, shall be carried in the insurer's financial statement
shall be determined as provided in W.S. 26-6-301 through

Wyoming § 26-24-107 (Stock of domestic insurer to be paid for in cash; exceptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.