§ 26-7-112 — Security interest in chattels; time limit for disposal

(a) Except as stated in subsection (b) of this section,
the insurer shall dispose of real property acquired under W.S.
26-7-107(a)(xiii)(A) within five (5) years after it ceases to be
necessary to the insurer in the transaction of its business and
real property acquired under W.S. 26-7-107(a)(xiii)(B), (C) and
(D) within five (5) years after the date of acquisition.
(b) Upon satisfactory proof that the insurer's interests
will suffer materially by the forced sale of real property, the
commissioner, by order, may grant a reasonable extension of the
period within which the insurer shall dispose of any particular
parcel of real property, unless the insurer elects to hold the
real property as an investment for income purposes under W.S.
26-7-107(a)(xiii)(F), in which case thereafter the real property
is deemed to have been acquired at a cost equal to its book
value at the time of the election and to be held under and
subject to that subparagraph.