Wyoming § 26-24-138 Nonassessable policies

Wyoming Statutes

§ 26-24-138 — Nonassessable policies

Wyoming § 26-24-138

Title 26Insurance Code

Ch. 24ORGANIZATION AND CORPORATE PROCEDURES OF LEGAL

This text of Wyoming § 26-24-138 (Nonassessable policies) 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. § 26-24-138 (2026).

Text

(a)A domestic mutual insurer while maintaining unimpaired surplus funds not less in amount than the minimum paid-in capital stock and surplus required to be maintained by a domestic stock insurer, formed under this code, for authority to transact the same kinds of insurance, upon receipt of the commissioner's order so authorizing, may extinguish the contingent liability to assessment of its members as to all its policies in force and may omit provisions imposing contingent liability in all policies currently issued.

(b)The commissioner shall not authorize a domestic insurer to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish the liability of all its members and in all its policies for all kinds of

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(a) A domestic mutual insurer while maintaining unimpaired
surplus funds not less in amount than the minimum paid-in
capital stock and surplus required to be maintained by a
domestic stock insurer, formed under this code, for authority to
transact the same kinds of insurance, upon receipt of the
commissioner's order so authorizing, may extinguish the
contingent liability to assessment of its members as to all its
policies in force and may omit provisions imposing contingent
liability in all policies currently issued.
(b) The commissioner shall not authorize a domestic
insurer to extinguish the contingent liability of any of its
members or in any of its policies to be issued, unless it
qualifies to and does extinguish the liability of all its
members and in all its policies for all kinds of insurance it
transacted.
(c) A foreign or alien mutual insurer may issue
nonassessable policies to its members in this state pursuant to
its charter and the laws of its domicile.