§ 26-3-109 — Delayed compliance with capital and surplus requirements

Wyoming § 26-3-109

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 3: AUTHORIZATION OF INSURERS AND

Text

(a) A domestic or foreign insurer holding a valid
certificate of authority to transact insurance in this state as
of April 1, 1985, may continue to transact the kinds of
insurance permitted by the certificate of authority by complying
with this code and by maintaining unimpaired not less than the
same amount of paid-in capital stock or paid-in capital stock
and surplus, if a stock insurer, or not less than the same
amount of surplus, if a mutual insurer, as required under the
laws of this state for that authority immediately prior to that
date, and as if the laws had continued in force.
(b) An insurer specified in subsection (a) of this section
shall not be granted authority to transact any other or
additional kinds of insurance unless it then fully complies with
the capital and surplus requirements applied to all the kinds of
insurance it then proposes to transact, as provided under W.S.
26-3-108 as to new domestic insurers.