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2014 Wyoming Statutes
TITLE 26 - INSURANCE CODE
CHAPTER 24 - ORGANIZATION AND CORPORATE PROCEDURES OF LEGALRESERVE STOCK AND MUTUAL INSURERS
26-24-142. Impairment of capital or assets; liability of directors for deficiencies.


WY Stat § 26-24-142 (2014) What's This?

26-24-142. Impairment of capital or assets; liability of directors for deficiencies.

If the insurer fails to cure the deficiency within the period allowed therefor under W.S. 26-24-141, the insurer's directors are personally liable for payment of any losses or insurance benefits on new insurance risks the insurer assumes after expiration of the period, unless the insurer's certificate of authority is thereafter reinstated.

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