Wyoming § 26-28-105 Grounds for receivership; rehabilitation of
domestic insurer

Wyoming Statutes

§ 26-28-105 — Grounds for receivership; rehabilitation of domestic insurer

Wyoming § 26-28-105

Title 26Insurance Code

Ch. 28REHABILITATION AND LIQUIDATION

This text of Wyoming § 26-28-105 (Grounds for receivership; rehabilitation of domestic insurer) 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. § 26-28-105 (2026).

Text

(a)The commissioner may apply to the court for an order appointing him as receiver of and directing him to rehabilitate a domestic insurer if the insurer:

(i)Is impaired or insolvent or is in unsound or such other condition or using such methods and practices in the conduct of its business as to render its further transaction of insurance hazardous or injurious to its policyholders;

(ii)Refuses to submit any of its books, records, accounts or affairs to reasonable examination by the commissioner;

(iii)Conceals or removes records or assets or otherwise violates W.S. 26-24-129;

(iv)Fails to comply with the commissioner's order to make good an impairment of capital or surplus or both;

(v)Transfers or attempts to transfer substantially its entire property or business, or enters into any

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(a) The commissioner may apply to the court for an order
appointing him as receiver of and directing him to rehabilitate
a domestic insurer if the insurer:
(i) Is impaired or insolvent or is in unsound or such
other condition or using such methods and practices in the
conduct of its business as to render its further transaction of
insurance hazardous or injurious to its policyholders;
(ii) Refuses to submit any of its books, records,
accounts or affairs to reasonable examination by the
commissioner;
(iii) Conceals or removes records or assets or
otherwise violates W.S. 26-24-129;
(iv) Fails to comply with the commissioner's order to
make good an impairment of capital or surplus or both;
(v) Transfers or attempts to transfer substantially
its entire property or business, or enters into any transaction
the effect of which is to merge substantially its entire
property or business in that of any other insurer without first
obtaining the commissioner's written approval;
(vi) Willfully violates its charter or articles of
incorporation or any law of this state;
(vii) Has an officer, director or manager who refuses
to be examined under oath concerning its affairs, for which
purposes the commissioner may conduct and enforce by all
appropriate and available means any such examination under oath
in any other state or territory of the United States in which
the officer, director or manager may then presently be, to the
full extent permitted by the laws of the other state or
territory;
(viii) Is the subject of an application for the
appointment of a receiver, trustee, custodian or sequestrator of
the insurer or its property otherwise than pursuant to this
code, but only if the appointment has been made or is imminent
and its effect is or would be to oust the courts of this state
of jurisdiction under this chapter;
(ix) Consents to a receivership order through a
majority of its directors, stockholders, members or subscribers;
or
(x) Fails to pay a final judgment rendered against it
in this state upon any insurance contract issued or assumed by
it, within thirty (30) days after the judgment is final, or
within thirty (30) days after the time for taking an appeal
expires or within thirty (30) days after dismissal of an appeal
before final termination, whichever date is later.