§ 26-11-112 — Surplus lines broker's license; authority for issuance; application; fee; applicable law

Wyoming § 26-11-112

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 11: NONADMITTED INSURANCE

Text

(a) Repealed By Laws 2012, Ch. 37, § 3.
(b) Repealed By Laws 2012, Ch. 37, § 3.
(c) Repealed By Laws 2012, Ch. 37, § 3.
(d) Repealed By Laws 2012, Ch. 37, § 3.
(e) For insureds whose home state is Wyoming, a person
shall not procure a contract of surplus lines insurance for the
insured with a nonadmitted insurer unless the person possesses a
current surplus lines insurance license issued by the
commissioner.
(f) The commissioner may issue a resident surplus lines
broker license to a qualified holder of a current property and
casualty producer license if:
(i) The person has paid the fees set forth in W.S.
26-4-101(a);
(ii) The person has submitted or transmitted to the
commissioner a completed uniform application;
(iii) The individual has taken and passed a written
examination in a form prescribed by the commissioner; and
(iv) The person has established and continues to
maintain an office in this state.
(g) A nonresident person shall receive a nonresident
surplus lines broker license pursuant to the requirements of
W.S. 26-9-208.
(h) A business entity acting as a surplus lines broker is
required to obtain a surplus lines broker license. In addition
to the requirements for licensure set forth in subsections (f)
and (g) of this section; before approving the application the
commissioner shall find that the business entity has designated
a licensed surplus lines broker responsible for the business
entity's compliance with the insurance laws, rules and
regulations of this state.
(j) The commissioner may require any documents reasonably
necessary to verify the information contained in an application.
(k) The commissioner shall waive any requirements for a
nonresident surplus lines license applicant with a valid license
from his home state, except the requirements imposed by this
section, if the applicant's home state awards nonresident
surplus lines licenses to residents of this state on the same
basis.
(m) Repealed by Laws 2019, ch. 19, § 2.
(n) The license and licensee are subject to chapter 9 of
this title as provided in W.S. 26-9-201.