§ 26-27-111 — Attorney's bond; generally

(a) Concurrently with the filing of the declaration
provided for in W.S. 26-27-107, the attorney of a domestic
reciprocal insurer shall file with the commissioner a bond in
favor of this state for the benefit of all persons damaged as a
result of breach by the attorney of the conditions of his bond
as set forth in subsection (b) of this section. The bond shall
be executed by the attorney and by an authorized corporate
surety, subject to the commissioner's approval.
(b) The bond shall be in the penal sum of twenty-five
thousand dollars ($25,000.00), aggregate in form, conditioned
that the attorney will faithfully account for all the insurer's
monies and other property coming into his hands and that he will
not withdraw or appropriate to his own use from the insurer's
funds, any monies or property to which he is not entitled under
the power of attorney.
(c) The bond shall provide that it is not subject to
cancellation unless thirty (30) days advance notice in writing
of cancellation is given both the attorney and the commissioner.