2015 Wyoming Code
TITLE 26 - INSURANCE CODE
CHAPTER 26 - FARM MUTUAL PROPERTY INSURERS
SECTION 26-26-128. - Assessment of insured property; notice; time of payment; suit to collect assessment.

WY Stat § 26-26-128. (2015) What's This?

26-26-128. Assessment of insured property; notice; time of payment; suit to collect assessment.

(a) If an assessment is made, the insurer's secretary shall immediately notify each member in writing personally, or by a letter sent to his address last of record with the insurer, of the amount of the loss, the sum due from him as his share thereof and the time and to whom the payment is to be made.

(b) The time the assessment payment is to be made shall not be less than twenty (20) nor more than forty (40) days from the date of the notice.

(c) The insurer may institute suit against any member who fails to pay when due any assessment made upon him under this chapter.

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