reglab/housing_qa huggingface dataset:
WY Stat § 26-7-103 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-103 - Eligible Investments.

26-7-103. 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 the time it was made, and which the insurer was legally entitled to possess immediately prior to that date, is an eligible investment.  (c) Eligibility of an investment is determined as of the date of its making or acquisition, except as stated in subsection (b) of this section.  (d) Any investment limitation based upon the amount of the insurer's assets or particular funds relates to those assets or funds as shown by the insurer's annual statement as of December 31 immediately preceding the date of the insurer's acquisition of the investment, or as shown by a current financial statement resulting from merger of another insurer, bulk reinsurance or change in capitalization.  (e) An insurer authorized to transact insurance in a foreign country may make investments, in aggregate amount not exceeding its deposit and reserve obligations incurred in that country, in securities of or in that country possessing characteristics and of a quality similar to like investments in the United States.
WY Stat § 26-7-104 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-104 - General Qualifications for Investments.

26-7-104. 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 entitled to receive for its exclusive account and benefit the interest or income accruing thereon. Any stock or digital security as defined by W.S. 34-29-101(a)(iii) which has the ability to appreciate in value shall be considered to be income paying for purposes of this subsection.  (b) No security or investment is eligible for purchase at a price above its market value.  (c) Nothing in this chapter prohibits an insurer from acquiring other or additional securities or property if received as a dividend or as a lawful distribution of assets, or under a lawful and bona fide agreement of bulk reinsurance, merger or consolidation. Any investment so acquired which is not otherwise eligible under this chapter shall be disposed of pursuant to W.S. 26-7-112 if real property, or pursuant to W.S. 26-7-113 if personal property or securities.
WY Stat § 26-7-105 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-105 - Investment Authorization; Record.

26-7-105. 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 and charged with the supervision or making of the investment or loan. The minutes of any such committee shall be recorded and regular reports of the committee shall be submitted to the board of directors.  (b) The insurer shall maintain a full record of each investment, showing, among other pertinent information, the name of any officer, director or principal stockholder of the insurer having any interest in the securities, loan or property constituting the investment, or in the person in whose behalf the investment is made, and the nature of the interest.
WY Stat § 26-7-106 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-106 - Diversification of and Limits on Investments.

26-7-106. 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 obligations, property or securities of any one (1) person, institution, corporation or municipal corporation aggregating an amount exceeding five percent (5%) of the insurer's assets, except this does not apply to general obligations of the United States of America or of any state or include policy loans made under W.S. 26-7-108;  (ii) No insurer shall invest in or hold at any time more than ten percent (10%) of the outstanding voting stock of any corporation, except with respect to voting rights of preference stock during default of dividends, except this does not apply to stock of an insurer's subsidiary acquired under W.S. 26-7-107(a)(vii) or (xiv), or to controlling stock of an insurer acquired under W.S. 26-7-107(a)(vi);  (iii) An insurer, other than a title insurer, shall invest and maintain invested funds not less in amount than the minimum paid-in capital stock required under this code of a domestic stock insurer transacting like kinds of insurance, only in cash and the securities provided under W.S. 26-7-107(a)(i) and 26-7-107(a)(xii);  (iv) A life insurer shall also invest and keep invested its funds, in an amount not less than the reserves under its life insurance policies and annuity contracts in force, in cash or the securities or investments allowed under this chapter, other than in common stocks, insurance stocks and stocks of the insurer's subsidiaries;  (v) No life insurer shall invest and have invested at any time in aggregate amount more than seven percent (7%) of its assets in all stocks under W.S. 26-7-107(a)(iv), (v), (vi) and (viii), except this does not apply to stock of a controlled or subsidiary corporation under W.S. 26-7-107(a)(vi), (vii) and (xiv);  (vi) No insurer shall have invested at any time more than sixty-five percent (65%) of its assets in obligations secured by mortgage, trust deed, contract of purchase or other similar encumbrance of real property;  (vii) No insurer shall have invested at any time more than seven percent (7%) of its assets in either improvement district obligations or equipment trust certificates;  (viii) Investments in real property are limited as provided in W.S. 26-7-107(a)(xiii); and  (ix) Other specific limits apply as stated in the sections dealing with other kinds of investments.
WY Stat § 26-7-108 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-108 - Policy Loans.

26-7-108. 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 obligations if the loan is adequately secured by the pledge or assignment. Loans so made are eligible investments of the insurer.
WY Stat § 26-7-109 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-109 - Collateral Loans.

26-7-109. 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 loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the categories of securities so pledged.
WY Stat § 26-7-110 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-110 - Miscellaneous Loans and Investments.

26-7-110. 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 assets and not over one percent (1%) of those assets as to any one loan or investment, if the loan or investment fulfills the requirements of W.S. 26-7-103 and otherwise qualifies as a sound investment. No such loan or investment shall be represented by:  (i) Any item excluded under W.S. 26-6-102 or any loan or investment otherwise expressly prohibited;  (ii) Agents' balances or amounts advanced to or owing by agents, except as to policy loans, mortgage loans and collateral loans otherwise authorized under this chapter;  (iii) Any category of loans or investments expressly eligible under any other provisions of this chapter;  (iv) Any asset theretofore acquired or held by the insurer under any other category of loans or investments eligible under this chapter.  (b) An insurer may make loans to industrial development corporations under the laws of this state in an amount not exceeding the limits set forth in W.S. 17-11-106(b)(iii).  (c) The insurer shall keep a separate record of all loans and investments made under this section.
WY Stat § 26-7-111 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-111 - Security Interest in Chattels.

26-7-111. 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 exceeding twenty percent (20%) of the amount loaned on or invested in the real property mortgage, on the security of chattels, to be amortized by regular payments within a term of not more than five (5) years, and representing a first and prior lien, except for taxes not then delinquent, on personal property constituting durable equipment and owned by the mortgagor and kept and used in the mortgaged premises.  (b) For the purposes of this section, "durable equipment" includes only mechanical refrigerators, air conditioning equipment, mechanical laundering machines, heating and cooking stoves and ranges, and in the case of apartment houses, motels and hotels, room furniture and furnishings also.  (c) Prior to the acquisition of a chattel mortgage under this section, items of property to be included therein shall be separately appraised by a qualified appraiser and the fair market value thereof determined. No chattel loan shall exceed in amount the same ratio of loan to the value of the property as is applicable to the companion loan on the real property.  (d) This section does not prohibit an insurer from taking liens on personal property as additional security for any investment otherwise eligible under this chapter.
WY Stat § 26-7-112 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-112 - Security Interest in Chattels; Time Limit for Disposal.

26-7-112. Security interest in chattels; time limit for disposal.| (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 transaction of its business and real property acquired under W.S. 26-7-107(a)(xiii)(B), (C) and (D) within five (5) years after the date of acquisition.  (b) Upon satisfactory proof that the insurer's interests will suffer materially by the forced sale of real property, the commissioner, by order, may grant a reasonable extension of the period within which the insurer shall dispose of any particular parcel of real property, unless the insurer elects to hold the real property as an investment for income purposes under W.S. 26-7-107(a)(xiii)(F), in which case thereafter the real property is deemed to have been acquired at a cost equal to its book value at the time of the election and to be held under and subject to that subparagraph.
WY Stat § 26-7-113 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-113 - Disposal of Ineligible Investments; Time Limit for Disposal.

26-7-113. Disposal of ineligible investments; time limit for disposal.| 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 date of acquisition unless within that period the security becomes an eligible investment, except that any security or personal property acquired under any agreement of bulk reinsurance, merger or consolidation may be retained for a longer period if so provided in the plan for reinsurance, merger or consolidation as the commissioner approves under chapter 24 of this code. Upon the insurer's application and proof that forced sale of any such property or security would materially injure its interests, the commissioner may extend the disposal period for an additional reasonable time.
WY Stat § 26-7-114 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-114 - Disposal of Ineligible Investments; Failure to Dispose; Disposal of Ineligible Investments Unlawfully Acquired.

26-7-114. 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 that period as provided in W.S. 26-7-107(a)(vi) or 26-7-107(a)(vii), shall not be allowed as an insurer's asset.  (b) An insurer shall immediately dispose of any ineligible investment unlawfully acquired. The commissioner shall suspend or revoke the insurer's certificate of authority if the insurer fails to dispose of the investment within any reasonable time the commissioner, by order, specifies.
WY Stat § 26-7-115 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-115 - Prohibited Investments; Securities Underwriting Prohibited.

26-7-115. Prohibited investments; securities underwriting prohibited.| (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 of mutualization under W.S. 26-24-143;  (ii) Securities issued by any corporation or enterprise the controlling interest of which is or after the insurer's acquisition will be held by the insurer or any combination of the insurer and the insurer's directors, officers, parent corporation, subsidiaries or controlling stockholders and the spouses and children of any of them. Investments in controlled insurance corporations or subsidiaries under W.S. 26-7-107(a)(vi), (vii) or (xiv) are not subject to this provision;  (iii) Any note or other evidence of indebtedness of any director, officer, employee or controlling stockholder of the insurer or of the spouse or child of any of them, except as to policy loans authorized under W.S. 26-7-108.  (b) No insurer shall underwrite or participate in the underwriting of an offering of securities or property by any other person.
WY Stat § 26-7-116 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 7 - Investments|Section 26-7-116 - Investments of Foreign Insurers.

26-7-116. 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 relative quality and value of the investment portfolio of a foreign or alien insurer, the commissioner, for purposes of comparison, may apply the provisions of this code regulating investments of domestic insurers and valuation of those insurers. If the commissioner determines that the investment portfolio of a foreign or alien insurer is not of a quality substantially equal to that required under this chapter for similar funds of like domestic insurers, he may refuse to continue or may suspend or revoke an insurer's certificate of authority in accordance with W.S. 26-3-115.
WY Stat § 26-11-101 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 11 - Nonadmitted Insurance|Section 26-11-101 - Short Title.

26-11-101. Short title.| This chapter constitutes and may be cited as the "Nonadmitted Insurance Law".
WY Stat § 26-11-102 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 11 - Nonadmitted Insurance|Section 26-11-102 - Home State Regulation of Nonadmitted Insurance; Exemptions.

26-11-102. Home state regulation of nonadmitted insurance; exemptions.| (a) This chapter does not apply to reinsurance or to the following insurances when placed by licensed insurance producers or surplus lines brokers of this state or when procured directly by an insured from a nonadmitted insurer:  (i) Wet marine and transportation insurance;  (ii) Repealed by Laws 2020, ch. 45, § 2.  (iii) Insurance on operations of railroads engaged in transportation in interstate commerce and their property used in those operations;  (iv) Insurance on aircraft owned or operated by manufacturers of aircraft, or on aircraft operated in commercial interstate flight, or cargo of that aircraft, or against liability, other than worker's compensation and employer's liability, arising out of the ownership, maintenance or use of that aircraft.  (b) The placement of nonadmitted insurance shall be subject to the statutory and regulatory requirements solely of the insured's home state.  (c) This section shall not be construed to preempt any state law, rule or regulation that restricts the placement of workers' compensation insurance or excess insurance for self-funded workers' compensation plans with a nonadmitted insurer.
WY Stat § 26-11-105 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 11 - Nonadmitted Insurance|Section 26-11-105 - Surplus Lines Transaction Report.

26-11-105. Surplus lines transaction report.| (a) Within forty-five (45) days after placing any surplus line insurance for an insured whose home state is this state, each surplus lines broker shall execute and file a report regarding the insurance coverage which shall be kept confidential by the commissioner, including the following:  (i) The name and address of the insured;  (ii) The identity of the insurer or insurers;  (iii) A description of the subject and location of the risk;  (iv) The amount of premium charged for the insurance;  (v) Tax allocation information detailing the portion of the premium attributable to properties, risks or exposures located in each state; and  (vi) Any other information as may be required by the commissioner.  (b) The report shall be in the form and manner prescribed by the commissioner.
WY Stat § 26-11-106 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 11 - Nonadmitted Insurance|Section 26-11-106 - Open Lines for Export.

26-11-106. Open lines for export.| (a) The commissioner, by order, may declare eligible for export generally and without compliance with W.S. 26-11-104(a)(ii) and (iii), any type of insurance coverage or risk for which he finds, after notice and a hearing, that there is not a reasonable or adequate market among admitted insurers either as to acceptance of the risk, contract terms, premium or premium rate. The order shall continue in effect during the existence of the conditions upon which predicated, but subject to the commissioner's earlier termination.  (b) Repealed by Laws 2020, ch. 45, § 2.  (c) Repealed by Laws 2020, ch. 45, § 2.
WY Stat § 26-11-109 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 11 - Nonadmitted Insurance|Section 26-11-109 - Required Information on Surplus Lines Contracts; Duty to Notify Insured.

26-11-109. Required information on surplus lines contracts; duty to notify insured.| (a) Every new or renewed insurance contract, certificate, cover note or other confirmation of insurance that is procured and delivered as a surplus lines coverage pursuant to this chapter shall have stamped or printed upon it, in at least ten (10) point bold type font, the name and address of the surplus lines broker who procured the coverage, and the following disclosure: "This insurance contract is issued pursuant to the Wyoming Nonadmitted Insurance Laws by an insurer neither licensed by nor under the jurisdiction of the Wyoming Insurance Department. In the event of insolvency of the surplus lines insurer, losses will not be paid by the Wyoming Insurance Guaranty Association or the Wyoming Life and Health Insurance Guaranty Association."  (b) The insurance producer shall give written notice to every person applying for insurance with a nonadmitted insurer prior to placement. The notice shall provide the disclosure required by subsection (a) of this section and any additional information required by the commissioner. The applicant shall sign and date a copy of the notice acknowledging receipt. The notice shall be in a form acceptable to the commissioner, a signed copy of which shall be maintained by the surplus lines broker with the records of the contract and available for examination by the commissioner.  (i) Repealed by Laws 2020, ch. 45, § 2.  (ii) Repealed by Laws 2020, ch. 45, § 2.  (c) Nothing herein contained shall nullify any agreement by any insurer to provide insurance.
WY Stat § 26-11-110 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 11 - Nonadmitted Insurance|Section 26-11-110 - Enforceability and Validity of Nonadmitted Insurance.

26-11-110. Enforceability and validity of nonadmitted insurance.| Insurance contracts procured from nonadmitted insurers in accordance with this chapter are fully valid and enforceable as to all parties and shall be given recognition in all matters and respects to the same effect as like contracts issued by admitted insurers.
WY Stat § 26-11-111 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 11 - Nonadmitted Insurance|Section 26-11-111 - Liability of Insurer as to Losses and Unearned Premiums; Applicability of Section to Insurers.

26-11-111. Liability of insurer as to losses and unearned premiums; applicability of section to insurers.| (a) As to a surplus line risk which is assumed by a nonadmitted insurer pursuant to this chapter, and if the premium thereon is received by the surplus line broker who placed the insurance, in all questions thereafter arising under the coverage as between the insurer and the insured the insurer is deemed to have received the premium due to it for that coverage. The insurer is liable to the insured for losses covered by the insurance and for unearned premiums which are payable to the insured upon cancellation of the insurance, whether or not the broker is indebted to the insurer with respect to the insurance or for any other cause.  (b) Each nonadmitted insurer assuming a surplus line risk under this chapter subjects itself to the terms of this section.