§ 26-23-318 — Title agents; issuance of license; expiration; renewal

(a) The commissioner shall issue a license to act as a
title agent to any person if:
(i) The prospective licensee files an application
pursuant to W.S. 26-23-317;
(ii) The prospective licensee meets the requirements
of W.S. 26-23-316; and
(iii) The prospective licensee provides the
commissioner with evidence of financial responsibility in the
form and in a minimum amount the commissioner requires by
regulation.
(b) Each individual title agent's license expires on the
last day of the month of the licensee's birthday in the second
year following the issuance or renewal of the license, and may
be renewed if prior to the expiration of his license a written
request for continuation of the license is made to the
commissioner on forms prescribed by the commissioner, the
continuation fee set forth in W.S. 26-4-101 is paid, continuing
education requirements are met by the due date and the licensee
remains in compliance with all other applicable provisions of
this code. An individual title agent who allows the license to
lapse may, within twelve (12) months from the due date of the
continuation fee, reinstate the same license without the
necessity of passing a written examination, however, a penalty
equal to the amount of the continuation fee shall be required in
addition to the continuation fee for any continuation request
received after the due date.
(c) Each title agent license issued to a business entity
expires on the last day of the month in which the license was
effective in the second year following the issuance or renewal
of the license and may be renewed if prior to the expiration of
the license, a written request for continuation of the license
is made to the commissioner on forms prescribed by the
commissioner, the continuation fee set forth in W.S. 26-4-101 is
paid and the licensee remains in compliance with all other
provisions of this code. A business entity title agent that
allows the license to lapse may, within twelve (12) months from
the due date of the continuation fee, reinstate the same
license, however, a penalty equal to the amount of the
continuation fee shall be required in addition to the
continuation fee for any continuation request received after the
due date.