Wyoming § 26-24-135 Contingent liability of mutual member
generally

Wyoming Statutes

§ 26-24-135 — Contingent liability of mutual member generally

Wyoming § 26-24-135

Title 26Insurance Code

Ch. 24ORGANIZATION AND CORPORATE PROCEDURES OF LEGAL

This text of Wyoming § 26-24-135 (Contingent liability of mutual member generally) 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. § 26-24-135 (2026).

Text

(a)Except as otherwise provided in W.S. 26-24-138 with respect to nonassessable policies, each member of a domestic mutual insurer has a contingent liability, pro rata and not one

(1)for another, for the discharge of its obligations. The contingent liability shall be in the maximum amount specified in the insurer's articles of incorporation consistent with W.S. 26-24-103(c)(iv).

(b)Any policy the insurer issues shall contain a statement of the contingent liability.

(c)Termination of any member's policy does not relieve the member of contingent liability for his proportion of the obligations of the insurer which accrue while the policy is in force as provided in W.S. 26-24-136.

(d)Unrealized contingent liability of members does not constitute an asset of the insurer in any determinatio

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(a) Except as otherwise provided in W.S. 26-24-138 with
respect to nonassessable policies, each member of a domestic
mutual insurer has a contingent liability, pro rata and not one
(1) for another, for the discharge of its obligations. The
contingent liability shall be in the maximum amount specified in
the insurer's articles of incorporation consistent with W.S.
26-24-103(c)(iv).
(b) Any policy the insurer issues shall contain a
statement of the contingent liability.
(c) Termination of any member's policy does not relieve
the member of contingent liability for his proportion of the
obligations of the insurer which accrue while the policy is in
force as provided in W.S. 26-24-136.
(d) Unrealized contingent liability of members does not
constitute an asset of the insurer in any determination of its
financial condition.