Title 26 — Title 26 — Insurance Code
56 chapters · 1,242 sections in this title.
W.S. § 26-7-101 Scope of chapter
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Scope of chapter. Except as to W.S. 26-7-116, this chapter applies to domestic insurers only.
W.S. § 26-7-102 Definitions of terms used in chapter; determination of net earnings
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Definitions of terms used in chapter; determination of net earnings. (a) As used in this chapter: (i) "Fixed charges" means interest on funded and unfunded debt amortization of debt discount and rentals for leased properties; (ii) "Institution" means corporations, joint-stock ass…
W.S. § 26-7-103 Eligible investments
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Eligible investments. (a) Insurers shall invest in or lend their funds on the security of and shall hold as invested assets only eligible investments prescribed in this chapter. (b) Any particular investment held by an insurer on January 1, 1968, which was a legal investment at t…
W.S. § 26-7-104 General qualifications for investments
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General qualifications for investments. (a) No security or investment, other than property acquired under W.S. 26-7-107(a)(xiii), is eligible for acquisition unless it is interest bearing or interest accruing or dividend or income paying, is not then in default and the insurer is…
W.S. § 26-7-105 Investment authorization; record
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Investment authorization; record. (a) No insurer shall make any investment or loan, other than a policy loan or an annuity contract loan of a life insurer, unless the investment or loan is authorized by the insurer's board of directors or by a committee authorized by the board an…
W.S. § 26-7-106 Diversification of and limits on investments
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Diversification of and limits on investments. (a) An insurer shall invest in or hold as admitted assets only categories of investments within applicable limits as follows: (i) No insurer shall have at any time any combination of investments in or loans upon the security of the ob…
W.S. § 26-7-107 (a) Authorized investments
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(a) Authorized investments. An insurer may invest in: (i) Bonds or other evidences of indebtedness, not in default as to principal or interest, which are valid and legally authorized obligations issued, assumed or guaranteed by the United States or Canada or by any state, territo…
W.S. § 26-7-108 Policy loans
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Policy loans. A life insurer may lend to its policyholder upon pledge of the policy as collateral security any sum not exceeding the cash surrender value of the policy, or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligation…
W.S. § 26-7-109 Collateral loans
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Collateral loans. An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As of the date made, no such loan shall exceed in amount ninety percent (90%) of the market value of the collateral pledged. The amount loa…
W.S. § 26-7-110 Miscellaneous loans and investments
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Miscellaneous loans and investments. (a) An insurer may make loans or investments not otherwise expressly permitted under this chapter, in aggregate amounts not over five percent (5%) of the insurer's admitted assets and not over one percent (1%) of those assets as to any one loa…
W.S. § 26-7-111 Security interest in chattels
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Security interest in chattels. (a) In connection with a mortgage loan on the security of real property designed and used primarily for residential purposes only, which mortgage loan was acquired pursuant to W.S. 26-7-107(a)(xii), an insurer may lend or invest an amount, not excee…
W.S. § 26-7-112 disposal
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disposal. Security interest in chattels; time limit for (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 transact…
W.S. § 26-7-113 for disposal
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for disposal. Disposal of ineligible investments; time limit Any personal property or securities lawfully acquired by an insurer which it could not otherwise have invested in or loaned its funds upon at the time of the acquisition, shall be disposed of within three (3) years from…
W.S. § 26-7-114 Disposal of ineligible investments; failure to dispose; disposal of ineligible investments unlawfully acquired
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Disposal of ineligible investments; failure to dispose; disposal of ineligible investments unlawfully acquired. (a) Any real property, personal property or securities lawfully acquired and held by an insurer after expiration of the period for disposal thereof or any extension of …
W.S. § 26-7-115 prohibited
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prohibited. Prohibited investments; securities underwriting (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…
W.S. § 26-7-116 Investments of foreign insurers
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Investments of foreign insurers. The investment portfolio of a foreign or alien insurer shall be as permitted by the laws of its domicile if of a quality substantially equal to that required under this chapter for similar funds of like domestic insurers. In determining the relati…