Wyoming § 26-27-109 Power of attorney

Wyoming Statutes

§ 26-27-109 — Power of attorney

Wyoming § 26-27-109

Title 26Insurance Code

Ch. 27RECIPROCAL INSURERS

This text of Wyoming § 26-27-109 (Power of attorney) 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. § 26-27-109 (2026).

Text

(a)The rights and powers of a reciprocal insurer's attorney are as provided in the power of attorney given it by the subscribers.

(b)The power of attorney shall set forth:

(i)That the attorney is empowered to accept service of process on behalf of the insurer in actions against the insurer upon contracts exchanged;

(ii)The powers of the attorney;

(iii)The general services to be performed by the attorney;

(iv)The maximum amount to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense, in addition to losses, to be paid by the insurer; and

(v)Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount, which shall not be less than one (1) nor more than ten (10) times the

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(a) The rights and powers of a reciprocal insurer's
attorney are as provided in the power of attorney given it by
the subscribers.
(b) The power of attorney shall set forth:
(i) That the attorney is empowered to accept service
of process on behalf of the insurer in actions against the
insurer upon contracts exchanged;
(ii) The powers of the attorney;
(iii) The general services to be performed by the
attorney;
(iv) The maximum amount to be deducted from advance
premiums or deposits to be paid to the attorney and the general
items of expense, in addition to losses, to be paid by the
insurer; and
(v) Except as to nonassessable policies, a provision
for a contingent several liability of each subscriber in a
specified amount, which shall not be less than one (1) nor more
than ten (10) times the premium deposit stated in the policy.
(c) The power of attorney may:
(i) Provide for the right of substitution of the
attorney and revocation of the power of attorney and rights
thereunder;
(ii) Impose any restrictions upon the exercise of the
power as are agreed upon by the subscribers;
(iii) Provide for the exercise of any right reserved
to the subscribers directly or through their advisory committee;
and
(iv) Contain any other lawful provisions deemed
advisable.
(d) The terms of any power of attorney or agreement
collateral thereto shall be reasonable and equitable, and no
power or agreement shall be used or be effective in this state
until approved by the commissioner.