§ 26-7-115 — Prohibited investments; securities underwriting prohibited

(a) In addition to investments excluded pursuant to other
provisions of this code, an insurer shall not invest in or lend
its funds upon the security of:
(i) Issued shares of its own capital stock, except
for the purpose of mutualization under W.S. 26-24-143;
(ii) Securities issued by any corporation or
enterprise the controlling interest of which is or after the
insurer's acquisition will be held by the insurer or any
combination of the insurer and the insurer's directors,
officers, parent corporation, subsidiaries or controlling
stockholders and the spouses and children of any of them.
Investments in controlled insurance corporations or subsidiaries
under W.S. 26-7-107(a)(vi), (vii) or (xiv) are not subject to
this provision;
(iii) Any note or other evidence of indebtedness of
any director, officer, employee or controlling stockholder of
the insurer or of the spouse or child of any of them, except as
to policy loans authorized under W.S. 26-7-108.
(b) No insurer shall underwrite or participate in the
underwriting of an offering of securities or property by any
other person.