Wyoming § 26-28-122 Power of commissioner to borrow on pledge of
assets

Wyoming Statutes

§ 26-28-122 — Power of commissioner to borrow on pledge of assets

Wyoming § 26-28-122

Title 26Insurance Code

Ch. 28REHABILITATION AND LIQUIDATION

This text of Wyoming § 26-28-122 (Power of commissioner to borrow on pledge of assets) 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. § 26-28-122 (2026).

Text

(a)For the purpose of facilitating the rehabilitation, liquidation, conservation or dissolution of an insurer pursuant to this chapter, the commissioner, subject to court approval, may:

(i)Borrow money and execute, acknowledge and deliver notes or other evidences of indebtedness therefor and secure the repayment of the notes or other evidences of indebtedness by the mortgage, pledge, assignment, transfer in trust or hypothecation of any of the insurer's property; and

(ii)Take any other action necessary and proper to consummate any such loan and to provide for the repayment of that loan.

(b)The commissioner has no obligation personally or in his official capacity to repay any loan made pursuant to this section.

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(a) For the purpose of facilitating the rehabilitation,
liquidation, conservation or dissolution of an insurer pursuant
to this chapter, the commissioner, subject to court approval,
may:
(i) Borrow money and execute, acknowledge and deliver
notes or other evidences of indebtedness therefor and secure the
repayment of the notes or other evidences of indebtedness by the
mortgage, pledge, assignment, transfer in trust or hypothecation
of any of the insurer's property; and
(ii) Take any other action necessary and proper to
consummate any such loan and to provide for the repayment of
that loan.
(b) The commissioner has no obligation personally or in
his official capacity to repay any loan made pursuant to this
section.