§ 9-12-1304 — Requirements

(a) An insurance company or affiliate of an insurance
company or insurer shall not, directly or indirectly:
(i) Own, whether through rights, options, convertible
interest, or otherwise, fifteen percent (15%) or more of the
voting securities or other voting ownership interest of a
Wyoming small business investment company;
(ii) Manage a Wyoming small business investment
company; or
(iii) Control the direction of investments for a
Wyoming small business investment company.
(b) A Wyoming small business investment company may obtain
one (1) or more guaranties, indemnities, bonds, insurance
policies or other payment undertakings for the benefit of its
participating investors from any entity, except that in no case
shall more than one (1) participating investor of the Wyoming
small business investment company, including any affiliates of
the participating investor, be entitled to provide such
guaranties, indemnities, bonds, insurance policies or other
payment undertakings in favor of the participating investors of
the Wyoming small business investment company and its
affiliates.
(c) This section shall not be construed to preclude a
participating investor, insurance company or other party from
exercising its legal rights and remedies including, without
limitation:
(i) Interim management of a Wyoming small business
investment company in the event that a Wyoming small business
investment company is in default of its statutory obligations or
its contractual obligations to such participating investor,
insurance company or other party;
(ii) Monitoring a Wyoming small business investment
company to ensure its compliance with this section; or
(iii) Disallowing any investments that have not been
approved by the council pursuant to this article.