A policy issued to a creditor to insure debtors of the creditor shall contain a provision that the insurer shall furnish to the policyholder for delivery to each debtor insured under the policy a form which shall contain a statement that the life of the debtor is insured under the policy and that any death benefit paid thereunder by reason of his death shall first be applied to reduce or extinguish the indebtedness.
Wyo. Stat. Ann. § 26-17-121
Information to debtor insured under creditor's policy
Known as the Group Life Insurance Law
The act spans §§ 26-17-101 to 26-17-130 (30 sections).
Official source: Wyoming Legislature. Reproduced from public-domain Wyoming statutes; confirm against the official source for the current text. Not legal advice.