Wyoming § 26-37-110 Examination of mechanical breakdown insurance
organizations; audited financial statement

Wyoming Statutes

§ 26-37-110 — Examination of mechanical breakdown insurance organizations; audited financial statement

Wyoming·Title 26 Insurance Code·Ch. 37 MECHANICAL BREAKDOWN INSURANCE

(a)Every mechanical breakdown insurance organization is subject to examination by the commissioner in the manner and under the conditions provided for examination of insurers pursuant to W.S. 26-2-116 through 26-2-122. In the examination, the assets of any organization are those assets determined by the commissioner to be available for the payment of the obligations of the organization. In accordance with W.S. 26-2-122, the expense of examination shall be paid by the organization.

(b)Instead of examination under subsection (a) of this section, the commissioner may accept a copy of the most recent financial statement of the organization which has been audited by an independent certified public accountant and which demonstrates that the organization is solvent as determined by generally ac

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(a) Every mechanical breakdown insurance organization is
subject to examination by the commissioner in the manner and
under the conditions provided for examination of insurers
pursuant to W.S. 26-2-116 through 26-2-122. In the examination,
the assets of any organization are those assets determined by
the commissioner to be available for the payment of the
obligations of the organization. In accordance with W.S.
26-2-122, the expense of examination shall be paid by the
organization.
(b) Instead of examination under subsection (a) of this
section, the commissioner may accept a copy of the most recent
financial statement of the organization which has been audited
by an independent certified public accountant and which
demonstrates that the organization is solvent as determined by
generally accepted accounting principles.

Wyoming § 26-37-110 (Examination of mechanical breakdown insurance organizations; audited financial statement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.