2015 Wyoming Code
TITLE 26 - INSURANCE CODE
CHAPTER 26 - FARM MUTUAL PROPERTY INSURERS
SECTION 26-26-104. - Incorporation generally.

WY Stat § 26-26-104. (2015) What's This?

26-26-104. Incorporation generally.

(a) Twenty (20) or more individuals who are residents of this state and who collectively own property of not less than one hundred thousand dollars ($100,000.00) in value, above all incumbrances, may incorporate a farm mutual insurer.

(b) The incorporators shall sign and verify in quadruplicate articles of incorporation in accordance with the applicable provisions of the Wyoming Business Corporation Act but subject to the following requirements:

(i) The name of the corporation shall include the term "mutual";

(ii) The purposes of the corporation are limited to the transaction of business as a farm mutual insurer as defined in this chapter;

(iii) The articles of incorporation shall contain provisions as to the assessability of members for the payment of losses and expenses.

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