reglab/housing_qa huggingface dataset:
WY Stat § 26-6-210 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 2 - Standard Valuation Law Policies and Contracts|Section 26-6-210 - Principle Based Valuation; Requirements.

26-6-210. Principle based valuation; requirements.| (a) An insurer shall establish reserves using a principle based valuation that meets all of the following conditions for policies or contracts issued on or after the operative date of the valuation manual as specified in the valuation manual:  (i) Quantifies the benefits, guarantees, funding and risks associated with the policies or contracts at a level of conservatism that reflects conditions including unfavorable events with a reasonable probability of occurring during the lifetime of the contracts. For policies or contracts with significant tail risk, reflects conditions appropriately adverse to quantify the tail risk;  (ii) Incorporates assumptions, risk analysis methods and financial models and management techniques that are consistent with those utilized within the insurer's overall risk assessment process, while recognizing potential differences in financial reporting structures and any prescribed assumptions or methods;  (iii) Incorporates assumptions derived in one (1) of the following manners:  (A) Assumptions prescribed in the valuation manual;  (B) For assumptions not prescribed in the valuation manual, assumptions that:  (I) Use the insurer's available experience, to the extent it is relevant and statistically credible; or  (II) To the extent that company data on experience is not available, relevant or statistically credible, use other relevant, statistically credible experience.  (iv) Provides margins for uncertainty including adverse deviation and estimation error such that the greater the uncertainty the greater the margin and resulting reserve.  (b) An insurer using a principle based valuation for one (1) or more policies or contracts subject to this section as specified in the valuation manual shall:  (i) Establish procedures for corporate governance and oversight of the actuarial valuation function consistent with those described in the valuation manual;  (ii) Provide to the commissioner and the insurer's board of directors an annual certification of the effectiveness of the internal controls with respect to the principle based valuation. The controls shall be designed to assure all material risks inherent in the liabilities and associated assets subject to the valuation are included in the valuation and valuations are made in accordance with the valuation manual. The certification shall be based on the controls in place as of the end of the preceding calendar year;  (iii) Develop, and file with the commissioner upon the commissioner's request, a principle based valuation report that complies with standards prescribed in the valuation manual.  (c) A principle based valuation may include a prescribed formulaic reserve component.
WY Stat § 26-6-211 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 2 - Standard Valuation Law Policies and Contracts|Section 26-6-211 - Experience Data Reporting for Policies and Contracts.

26-6-211. Experience data reporting for policies and contracts.| An insurer shall submit mortality, morbidity, policyholder behavior or expense experience and other data as prescribed in the valuation manual.
WY Stat § 26-6-213 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 2 - Standard Valuation Law Policies and Contracts|Section 26-6-213 - Single State Exemption.

26-6-213. Single state exemption.| (a) The commissioner may exempt specific product forms or product lines of a domestic insurer that is licensed and doing business only in Wyoming from the requirements of W.S. 26-6-209, provided that:  (i) The commissioner has issued an exemption in writing to the insurer and has not subsequently revoked the exemption in writing; and  (ii) The insurer computes reserves using assumptions and methods used prior to the operative date of the valuation manual in addition to any requirements established by rule and regulation of the commissioner.  (b) For any insurer granted an exemption under this section, W.S. 26-6-203 and 26-6-205 through 26-6-208 shall be applicable. With respect to any insurer applying the exemption granted under this section, any reference to W.S. 26-6-209 found in W.S. 26-6-203 and 26-6-205 through 26-6-208 shall not be applicable.
WY Stat § 26-6-301 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 3 - Valuation of Other Securities|Section 26-6-301 - Valuation of Bonds and Other Debt Securities.

26-6-301. Valuation of bonds and other debt securities.| (a) The commissioner may, by rule or regulation, require that any bond or other evidence of debt held by an insurer be valued in accordance with the most recent published valuation standards of the National Association of Insurance Commissioners. Any bonds or other evidences of debt as to which the National Association of Insurance Commissioners has not published valuation standards in its valuations of securities manual, if amply secured and not in default as to principal or interest, shall be valued as follows:  (i) If purchased at par, at the par value;  (ii) If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or instead of this method, according to an accepted method of valuation the commissioner approves;  (iii) Purchase price shall in no case be taken at a higher figure than the actual fair value at the time of acquisition regardless of how acquired, plus actual brokerage, transfer, postage or express charges paid in the acquisition of the securities;  (iv) Unless otherwise provided by valuation the commissioner establishes or approves, no such security shall be carried at above the call price for the entire issue during any period within which the security may be called.  (b) The commissioner has full discretion in determining the method of calculating values according to the rules set forth in this section.
WY Stat § 26-6-302 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 3 - Valuation of Other Securities|Section 26-6-302 - Valuation of Other Securities.

26-6-302. Valuation of other securities.| (a) The commissioner may, by rule or regulation, require that securities other than securities referred to in W.S. 26-6-301 and except as provided in W.S. 26-16-502(a)(iv), held by an insurer, be valued in accordance with the most recent published valuation standards of the National Association of Insurance Commissioners. At the commissioner's discretion, securities as to which the National Association of Insurance Commissioners has not published valuation standards shall be valued at their fair value, or at their appraised value or at prices the commissioner determines as representing their fair value.  (b) Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value instead of fair value at the commissioner's discretion and in accordance with a method of computation he approves.  (c) The stock of an insurer's subsidiary shall be valued on the basis of the value of only those assets of the subsidiary as would constitute lawful investments of the insurer if acquired or held directly by the insurer.
WY Stat § 26-6-303 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 3 - Valuation of Other Securities|Section 26-6-303 - Valuation of Real and Personal Property.

26-6-303. Valuation of real and personal property.| (a) All real property shall be valued as set forth in the most recent National Association of Insurance Commissioners' accounting practices and procedures manual.  (i) Repealed by Laws 1994, ch. 76, § 3.  (ii) Repealed by Laws 1994, ch. 76, § 3.  (iii) Repealed by Laws 1994, ch. 76, § 3.  (iv) Repealed By Laws 2001, Ch. 9, § 2.  (v) Repealed By Laws 2001, Ch. 9, § 2.  (b) Repealed by Laws 1994, ch. 76, § 3.  (c) Personal property acquired pursuant to loans on the security of chattels made in accordance with W.S. 26-7-111 shall not be valued at an amount greater than the unpaid balance of principal on the defaulted loan at the date of acquisition together with taxes and expenses incurred in connection with the acquisition, or the fair value of the property, whichever is less.
WY Stat § 26-6-304 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 3 - Valuation of Other Securities|Section 26-6-304 - Valuation of Purchase Money Mortgages.

26-6-304. Valuation of purchase money mortgages.| Purchase money mortgages on real property shall be valued in accordance with the most recent National Association of Insurance Commissioners' accounting practices and procedures manual.
WY Stat § 26-6-305 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 3 - Valuation of Other Securities|Section 26-6-305 - "Insolvency" and "Impairment" Defined.

26-6-305. "Insolvency" and "impairment" defined.| (a) An insurer is insolvent if its total assets, as in this chapter provided, are less than its total liabilities, excluding as a liability, as to a stock insurer, the aggregate par value of its outstanding capital stock.  (b) An insurer is impaired if:  (i) As to a stock insurer, the sum of its assets is less than the sum of:  (A) Its liabilities;  (B) The aggregate par value of its outstanding capital stock; and  (C) The amount of surplus the insurer is required to maintain for the kinds of insurance transacted.  (ii) As to a mutual or reciprocal insurer, the sum of its assets is less than the sum of its liabilities and the amount of surplus the insurer is required to maintain for the kinds of insurance transacted.
WY Stat § 26-6-401 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 4 - Property and Casualty Actuarial Opinions|Section 26-6-401 - Short Title; Effective Date.

26-6-401. Short title; effective date.| This article shall be known as the property and casualty actuarial opinion law. W.S. 26-6-402 and 26-6-403 shall be effective beginning January 1, 2008 and shall be applicable to filings submitted after January 1, 2009.
WY Stat § 26-6-402 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 6 - Assets and Liabilities|Article 4 - Property and Casualty Actuarial Opinions|Section 26-6-402 - Actuarial Opinion of Reserves and Supporting Documentation.

26-6-402. Actuarial opinion of reserves and supporting documentation.| (a) Every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed actuary entitled "statement of actuarial opinion." This opinion shall be filed in accordance with the appropriate National Association of Insurance Commissioners property and casualty annual statement instructions.  (b) Every property and casualty insurance company domiciled in this state that is required to submit a statement of actuarial opinion shall annually submit an actuarial opinion summary, written by the company's appointed actuary. This actuarial opinion summary shall be filed in accordance with the appropriate National Association of Insurance Commissioners property and casualty annual statement instructions and shall be considered as a document supporting the actuarial opinion required in subsection (a) of this section. A company licensed but not domiciled in this state shall provide the actuarial opinion summary upon request.  (c) An actuarial report and underlying workpapers as required by the appropriate National Association of Insurance Commissioners property and casualty annual statement instructions shall be prepared to support each actuarial opinion required under this article. If the insurance company fails to provide a supporting actuarial report or workpapers at the request of the commissioner or the commissioner determines that the supporting actuarial report or workpapers provided by the insurance company is otherwise unacceptable to the commissioner, the commissioner may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting actuarial report or workpapers.  (d) The appointed actuary shall not be liable for damages to any person, other than the insurance company and the commissioner, for any act, error, omission, decision or conduct with respect to the actuary's opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary.
WY Stat § 26-8-101 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-101 - Authorized Deposits of Insurers.

26-8-101. Authorized deposits of insurers.| (a) The following deposits of insurers when made through the commissioner shall be accepted and held, subject to this chapter:  (i) Deposits required under this code for authority to transact insurance in this state;  (ii) Deposits of domestic insurers if made pursuant to the laws of other states, provinces and countries as a requirement for authority to transact insurance therein;  (iii) Deposits in any additional amounts permitted under W.S. 26-8-109(b).
WY Stat § 26-8-102 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-102 - Purposes for Holding Deposits.

26-8-102. Purposes for holding deposits.| (a) Deposits shall be held for purposes as follows:  (i) Deposits made in this state under W.S. 26-3-111 shall be held in trust for the purposes stated in that section;  (ii) A deposit made in this state by a domestic insurer transacting insurance in another state, province or country, as required by the laws thereof, shall be held in trust for the protection of all the insurer's policyholders or all its policyholders and creditors or for any other purpose specified by those laws;  (iii) A deposit required under W.S. 26-3-130 shall be held for purposes specified by the commissioner's order pursuant to which the deposit is to be made.
WY Stat § 26-8-103 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-103 - Securities Eligible for Deposit.

26-8-103. Securities eligible for deposit.| (a) Any deposits required under W.S. 26-3-111 for authority to transact insurance in this state shall consist of any combination of certificates of deposit issued by solvent banks, public obligations as described in W.S. 26-7-107(a)(i) or corporate obligations described in W.S. 26-7-107(a)(iii).  (b) Any other deposits of a domestic insurer held in this state pursuant to the laws of another state, province or country shall be comprised of assets described in subsection (a) of this section and of any additional securities required or permitted by those laws, except common stocks, mortgages of any kind and real property.  (c) Deposits of foreign insurers made in this state under W.S. 26-3-130 shall consist of assets the commissioner requires pursuant to that law.
WY Stat § 26-8-104 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-104 - Depository.

26-8-104. Depository.| (a) Deposits made in this state under this code shall be made through and with the commissioner's approval in safe deposit with an established safe deposit institution, bank or trust company located in this state and selected by the insurer.  (b) If the deposit is kept in safe deposit, the box or compartment in which are kept the assets and securities comprising the deposit shall be placed in a fireproof safe deposit vault and shall require two (2) distinctly differing keys to open it. One (1) of the keys shall at all times be kept by the commissioner and the other key shall at all times be kept by the insurer. The box or compartment shall not at any time be opened or remain open except through the joint action and in the presence of both the commissioner and the insurer's authorized representative.  (c) The insurer shall pay the customary fees for the safekeeping of its deposit.
WY Stat § 26-8-105 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-105 - Custodial Arrangements.

26-8-105. Custodial arrangements.| (a) Instead of deposit into safe deposit as provided in W.S. 26-8-104, upon the insurer's written request the commissioner may permit the insurer to make and maintain the deposit under custodial arrangements with the trust department of an established bank located in Wyoming.  (b) With the commissioner's written advance approval, the insurer may deposit certain of its securities under custodial arrangements with an established bank or trust company located outside this state, if the custodial bank or trust company issues original receipts for those securities and they are held in safe deposit or custody subject to the requirements of W.S. 26-8-104(b) or subsection (a) of this section.  (c) The form and terms of all such custodial arrangements shall be as the commissioner prescribes or approves consistent with the applicable provisions of this code [title 26].  (d) The insurer shall bear the costs of custodial arrangements.
WY Stat § 26-8-106 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-106 - Commissioner's Record of Deposits; Vouchers as to Assets Deposited.

26-8-106. Commissioner's record of deposits; vouchers as to assets deposited.| (a) The commissioner shall:  (i) Give the depositing insurer vouchers as to assets deposited with him;  (ii) Keep a record of the assets comprising each insurer's deposit, showing as far as practical the amount and market value of each item and each of his transactions relative thereto.
WY Stat § 26-8-107 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-107 - Assignment or Transfer of Securities Deposited to Commissioner.

26-8-107. Assignment or transfer of securities deposited to commissioner.| Any assets deposited by an insurer and not negotiable by delivery shall be assigned or transferred to the commissioner and his successors in office. Upon release of any such security or asset to the insurer, the commissioner shall reassign or transfer the security or asset to the insurer.
WY Stat § 26-8-108 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-108 - Appraisal of Securities Deposited.

26-8-108. Appraisal of securities deposited.| Prior to acceptance for deposit of any asset, or at any time thereafter while so deposited, the commissioner may have the asset appraised or valued by competent appraisers. The insurer shall bear the reasonable costs of the appraisal or valuation.
WY Stat § 26-8-109 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-109 - When Excess Deposits May Be Required.

26-8-109. When excess deposits may be required.| (a) If assets deposited by an insurer under this chapter are subject to material fluctuations in market value, the commissioner may require the insurer to deposit and maintain on deposit additional assets in an amount reasonably necessary to assure that the deposit at all times has a market value of not less than the amount specified under the law by which the deposit is required.  (b) An insurer not required to make additional deposits may deposit assets in an amount exceeding its deposit required or otherwise permitted under this code by not more than twenty percent (20%) of the required or permitted deposit, or twenty thousand dollars ($20,000.00), whichever is larger, for the purpose of absorbing fluctuations in the value of assets deposited and to facilitate exchange and substitution of those assets. During the insurer's solvency any excess deposit shall be released to the insurer upon its request. During the insurer's insolvency, an excess deposit shall be released only as provided in W.S. 26-8-113(d).
WY Stat § 26-8-110 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-110 - Rights of Solvent Insurer.

26-8-110. Rights of solvent insurer.| (a) If the insurer is solvent and in compliance with this code it may:  (i) Demand, receive, sue for and recover the income from the assets deposited;  (ii) Exchange and substitute for the deposited assets, or any part thereof, other eligible securities and assets of equivalent or greater market value; and  (iii) At any reasonable time inspect its deposit.
WY Stat § 26-8-111 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-111 - Levy Upon Deposit.

26-8-111. Levy upon deposit.| No judgment creditor or other claimant of an insurer has the right to levy upon any of the assets held in this state as a deposit for the protection of the insurer's policyholders or creditors or both. As to a deposit made pursuant to W.S. 26-3-111, levy on that deposit is permitted if provided in the commissioner's order under which the deposit is required.
WY Stat § 26-8-112 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 8 - Administration of Assets and Deposits|Article 1 - Administration of Deposits|Section 26-8-112 - Deficiency of Deposit; Failure to Cure.

26-8-112. Deficiency of deposit; failure to cure.| If for any reason the market value of an insurer's assets held on deposit in this state as required under this code falls below the required amount, the insurer shall promptly deposit other or additional assets eligible for deposit sufficient to cure the deficiency. If the insurer fails to cure the deficiency within twenty (20) days after receipt of notice thereof by registered or certified mail from the commissioner, the commissioner shall revoke the insurer's certificate of authority.