reglab/housing_qa huggingface dataset:
WY Stat § 26-45-106 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 45 - Broker Controlled Insurers|Section 26-45-106 - Penalties and Liabilities.

26-45-106. Penalties and liabilities.| (a) If the commissioner finds after a hearing conducted in accordance with W.S. 26-2-125 that any person has violated any provision of this article, the commissioner may order any or all of the following:  (i) For each separate violation, a civil penalty not to exceed five thousand dollars ($5,000.00);  (ii) For any controlling broker violating this article, revocation or suspension of the controlling broker's license;  (iii) The controlling broker to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this article committed by the controlling broker;  (iv) The controlling broker to cease placing business with the controlled insurer.  (b) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for in this code.  (c) Nothing contained in this section is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors or other third parties.
WY Stat § 26-45-107 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 45 - Broker Controlled Insurers|Section 26-45-107 - Rules and Regulations.

26-45-107. Rules and regulations.| The commissioner may adopt reasonable rules and regulations for the implementation and administration of this article.
WY Stat § 26-45-108 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 45 - Broker Controlled Insurers|Section 26-45-108 - Compliance With This Article.

26-45-108. Compliance with this article.| Controlled insurers and controlling brokers shall comply with W.S. 26-45-104 by September 1, 1992, and with W.S. 26-45-105 beginning with all policies written or renewed on or after September 1, 1992.
WY Stat § 26-46-101 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 46 - Managing General Agents|Section 26-46-101 - Definitions.

26-46-101. Definitions.| (a) As used in this article:  (i) "Actuary" means a person who is a member in good standing of the American Academy of Actuaries;  (ii) "Managing general agent" means any person, firm, association or corporation that:  (A) Acts as an agent or broker for an insurer whether known as a managing general agent, manager or other similar term;  (B) With or without the authority, either separately or together with affiliates, produces directly or indirectly or underwrites an amount of gross direct written premium equal to or more than five percent (5%) of the surplus as regards policyholders as reported in the last annual statement of the insurer in any one (1) quarter or year; and  (C) Manages all or part of the insurance business of an insurer, including the management of a separate division, department or underwriting office and:  (I) Negotiates reinsurance on behalf of the insurer; or  (II) Adjusts or pays claims.  (iii) "Underwrite" means the authority to accept or reject risk on behalf of the insurer;  (iv) The following persons shall not be considered as "managing general agents":  (A) An employee of the insurer;  (B) A United States manager of the United States branch of an alien insurer;  (C) An underwriting manager:  (I) Which, pursuant to contract, manages all the insurance operations of the insurer;  (II) Is under common control with the insurer, subject to the Insurance Holding Company System Regulatory Act; and  (III) Whose compensation is not based on the volume of premiums written.  (D) The attorney-in-fact authorized by and acting for the subscribers of a reciprocal insurer or interinsurance exchange under powers of attorney.
WY Stat § 26-46-102 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 46 - Managing General Agents|Section 26-46-102 - License Required.

26-46-102. License required.| (a) No person shall act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless the person is a licensed agent or broker in this state.  (b) No person shall act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless the person is licensed and appointed as an agent or broker in this state.  (c) The commissioner may:  (i) Require a bond from any managing general agent in an amount and from an insurer acceptable to him for the protection of each insurer;  (ii) Require the managing general agent to maintain an errors and omissions policy sufficient to protect the insurer; and  (iii) Impose upon any person acting in the capacity of a managing general agent under subsection (a) or (b) of this section, a biennial fee not to exceed one hundred dollars ($100.00). This fee shall be in addition to any other fees required under this code.
WY Stat § 26-46-104 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 46 - Managing General Agents|Section 26-46-104 - Duties of Insurer.

26-46-104. Duties of insurer.| (a) The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each managing general agent with which it has done business.  (b) If a managing general agent establishes loss reserves, the insurer shall, in addition to any other required loss reserve certification, annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the managing general agent.  (c) The insurer shall, at least semiannually, conduct an onsite review of the underwriting and claims processing operation of the managing general agent.  (d) Binding authority for all reinsurance contracts or participation in insurance or reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer, who shall not be affiliated with the managing general agent.  (e) Within thirty (30) days of entering into or termination of a contract with a managing general agent, the insurer shall provide written notification of the appointment or termination to the commissioner.  (f) Notices of the appointment of a managing general agent shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act, and any other information the commissioner may request.  (g) An insurer shall review its books and records each quarter to determine if any agent or broker has become, by operation, a managing general agent. If the insurer determines that an agent or broker has become a managing general agent, the insurer shall promptly notify the agent or broker and the commissioner of the determination and the agent or broker and the insurer shall fully comply with the provisions of this article within thirty (30) days.  (h) An insurer shall not appoint to its board of directors an officer, director, employee, subproducer or controlling shareholder of its managing general agents. This section shall not apply to relationships governed by the Insurance Holding Company System Regulatory Act or, if applicable, the Broker Controlled Insurer Act.
WY Stat § 26-46-105 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 46 - Managing General Agents|Section 26-46-105 - Examination Authority.

26-46-105. Examination authority.| The acts of the managing general agent shall be considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined as if it were the insurer.
WY Stat § 26-46-106 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 46 - Managing General Agents|Section 26-46-106 - Penalties and Liabilities.

26-46-106. Penalties and liabilities.| (a) If the commissioner finds after a hearing conducted in accordance with W.S. 26-2-125 that any person has violated any provision of this article, the commissioner may order:  (i) For each separate violation, a civil penalty not to exceed five thousand dollars ($5,000.00);  (ii) For any agent or broker violating this article, revocation or suspension of the agent's or broker's license; and  (iii) The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this article committed by the managing general agent.  (b) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for by this code.  (c) Nothing contained in this article is intended to or shall in any manner limit or restrict the rights of the policyholders, claimants and creditors or other third parties.
WY Stat § 26-46-107 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 46 - Managing General Agents|Section 26-46-107 - Rules and Regulations.

26-46-107. Rules and regulations.| The commissioner may adopt reasonable rules and regulations for the implementation and administration of this article.
WY Stat § 26-47-101 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-101 - Short Title.

26-47-101. Short title.| This article may be cited as the "Reinsurance Intermediary Act."
WY Stat § 26-47-104 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-104 - Required Contract Provisions for Reinsurance Intermediary Brokers.

26-47-104. Required contract provisions for reinsurance intermediary brokers.| (a) Transactions between a reinsurance intermediary broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:  (i) The insurer may terminate the reinsurance intermediary broker's authority at any time;  (ii) The reinsurance intermediary broker shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing to, the reinsurance intermediary broker, and remit all funds due to the insurer within thirty (30) days of receipt;  (iii) All funds collected for the insurer's account shall be held by the reinsurance intermediary broker in a fiduciary capacity in a bank which is a qualified United States financial institution;  (iv) The reinsurance intermediary broker shall comply with W.S. 26-47-105;  (v) The reinsurance intermediary broker shall comply with the written standards established by the insurer for the cession or retrocession of all risks;  (vi) The reinsurance intermediary broker shall disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.
WY Stat § 26-47-105 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-105 - Books and Records; Reinsurance Intermediary Brokers.

26-47-105. Books and records; reinsurance intermediary brokers.| (a) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker shall keep a complete record for each transaction showing:  (i) The type of contract, limits, underwriting restrictions, classes or risks and territory;  (ii) Period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation;  (iii) Reporting and settlement requirements of balances;  (iv) Rates used to compute the reinsurance premium;  (v) Names and addresses of assuming reinsurers;  (vi) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary broker;  (vii) Related correspondence and memoranda;  (viii) Proof of placement;  (ix) Details regarding retrocessions handled by the reinsurance intermediary broker including the identity of retrocessionaires and the percentage of each contract assumed or ceded;  (x) Financial records, including but not limited to, premium and loss accounts; and  (xi) When the reinsurance intermediary broker procures a reinsurance contract on behalf of a licensed ceding insurer:  (A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or  (B) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the assuming reinsurer has delegated binding authority to the representative.  (b) The insurer shall have access and the right to copy and audit all accounts and records maintained by the reinsurance intermediary broker related to its business in a form usable by the insurer.
WY Stat § 26-47-106 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-106 - Duties of Insurers Utilizing the Services of a Reinsurance Intermediary Broker.

26-47-106. Duties of insurers utilizing the services of a reinsurance intermediary broker.| (a) An insurer shall not engage the services of any person to act as a reinsurance intermediary broker on its behalf unless the person is licensed as required by W.S. 26-47-103(a).  (b) An insurer shall not employ an individual who is employed by a reinsurance intermediary broker with which it transacts business, unless the reinsurance intermediary broker is under common control with the insurer and subject to the Insurance Holding Company System Regulatory Act.  (c) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary broker with which it transacts business.
WY Stat § 26-47-108 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-108 - Books and Records; Reinsurance Intermediary Managers.

26-47-108. Books and records; reinsurance intermediary managers.| (a) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary manager, the reinsurance intermediary manager shall keep a complete record for each transaction showing:  (i) The type of contract, limits, underwriting restrictions, classes or risks and territory;  (ii) Period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation and disposition of outstanding reserves on covered risks;  (iii) Reporting and settlement requirements of balances;  (iv) Rates used to compute the reinsurance premium;  (v) Names and addresses of reinsurers;  (vi) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance intermediary manager;  (vii) Related correspondence and memoranda;  (viii) Proof of placement;  (ix) Details regarding retrocessions handled by the reinsurance intermediary manager, as permitted by W.S. 26-47-110(d), including the identity of retrocessionaires and percentage of each contract assumed or ceded;  (x) Financial records, including but not limited to, premium and loss accounts; and  (xi) When the reinsurance intermediary manager places a reinsurance contract on behalf of a ceding insurer:  (A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or  (B) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that the reinsurer has delegated binding authority to the representative.  (b) The reinsurer shall have access and the right to copy all accounts and records maintained by the reinsurance intermediary manager related to its business in a form usable by the reinsurer.
WY Stat § 26-47-109 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-109 - Prohibited Acts.

26-47-109. Prohibited acts.| (a) The reinsurance intermediary manager shall not:  (i) Cede retrocessions on behalf of the reinsurer;  (ii) Commit the reinsurer to participate in reinsurance syndicates;  (iii) Appoint any producer without assuring that the producer is lawfully licensed to transact the type of reinsurance for which he is appointed;  (iv) Without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one percent (1%) of the reinsurer's surplus as regards policyholders as of December 31 of the last complete calendar year;  (v) Collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, a report on the payment or the claim settlement shall be promptly forwarded to the reinsurer;  (vi) Jointly employ an individual who is employed by the reinsurer unless the reinsurance intermediary manager is under common control with the reinsurer subject to the Insurance Holding Company Regulatory System Act;  (vii) Appoint a subreinsurance intermediary manager.
WY Stat § 26-47-110 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-110 - Duties of Reinsurers Utilizing the Services of a Reinsurance Intermediary Manager.

26-47-110. Duties of reinsurers utilizing the services of a reinsurance intermediary manager.| (a) A reinsurer shall not engage the services of any person to act as a reinsurance intermediary manager on its behalf unless the person is licensed as required by W.S. 26-47-103(b).  (b) The reinsurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary manager which the reinsurer has engaged prepared by an independent certified accountant in a form acceptable to the commissioner.  (c) If a reinsurance intermediary manager establishes loss reserves, the reinsurer shall annually obtain the opinion of an independent actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the reinsurance intermediary manager. This opinion shall be in addition to any other required loss reserve certification.  (d) Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the reinsurance intermediary manager.  (e) Within thirty (30) days of termination of a contract with a reinsurance intermediary manager, the reinsurer shall provide written notification of the termination to the commissioner.  (f) A reinsurer shall not appoint to its board of directors, any officer, director, employee, controlling shareholder or subproducer of its reinsurance intermediary manager. This subsection shall not apply to relationships governed by the Insurance Holding Company Regulatory System Act or, if applicable, the Broker Controlled Insurer Act.
WY Stat § 26-47-111 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-111 - Examination Authority.

26-47-111. Examination authority.| A reinsurance intermediary shall be subject to examination by the commissioner pursuant to chapter 2 of the Wyoming Insurance Code. The commissioner shall have access to all books, bank accounts and records of the reinsurance intermediary in a form usable to the commissioner.
WY Stat § 26-47-112 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-112 - Penalties and Liabilities.

26-47-112. Penalties and liabilities.| (a) A reinsurance intermediary, insurer or reinsurer found by the commissioner to be in violation of any provision of this article, after a hearing conducted in accordance with W.S. 26-2-125 shall:  (i) For each separate violation, pay a penalty in an amount not to exceed five thousand dollars ($5,000.00);  (ii) Be subject to revocation or suspension of its license; and  (iii) If a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to the violation.  (b) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided in this code.  (c) Nothing contained in this article is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors or other third parties.
WY Stat § 26-47-113 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 47 - Reinsurance Intermediaries|Section 26-47-113 - Fees; Rules and Regulations.

26-47-113. Fees; rules and regulations.| (a) The commissioner may impose a biennial fee not to exceed one hundred dollars ($100.00) upon any reinsurance intermediary subject to the provisions of this article. The fee shall be in addition to any other fees provided in this code.  (b) The commissioner may adopt reasonable rules and regulations for the implementation and administration of the provisions of this article.
WY Stat § 26-49-101 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 49 - Service Contracts|Section 26-49-101 - Scope and Purposes.

26-49-101. Scope and purposes.| (a) The purpose of this article is to create a legal framework within which service contracts may be sold in this state.  (b) The following are exempt from W.S. 26-49-103 through 26-49-111:  (i) Warranties;  (ii) Maintenance agreements;  (iii) Warranties, service contracts and maintenance agreements offered by public utilities on their transmission devices to the extent they are regulated by public service commission; and  (iv) Service contracts sold or offered for sale to persons other than consumers.  (c) The types of agreements referred to in subsection (b) of this section do not have to comply with any provision of the insurance law of this state.  (d) This article does not apply to:  (i) Mechanical breakdown insurers licensed pursuant to chapter 37 of this code;  (ii) To mechanical breakdown insurance organizations who maintain a license pursuant to W.S. 26-37-106; or  (iii) To motor club services regulated pursuant to the Motor Club Services Act.
WY Stat § 26-49-104 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 49 - Service Contracts|Section 26-49-104 - Required Provisions; Reimbursement Insurance Policy.

26-49-104. Required provisions; reimbursement insurance policy.| (a) Reimbursement insurance policies insuring service contracts issued, sold or offered for sale in this state shall state that the insurer that issued the reimbursement insurance policy shall reimburse or pay on behalf of the provider any covered sums the provider is legally obligated to pay or shall provide the service which the provider is legally obligated to perform according to the provider s contractual obligations under the insured service contracts issued or sold by the provider.  (b) In the event covered service is not provided by the service contract provider within sixty (60) days of proof of loss by the service contract holder, the contract holder is entitled to apply directly to the reimbursement insurance company.