Wyoming § 26-34-107 Fiduciary responsibilities

Wyoming Statutes

§ 26-34-107 — Fiduciary responsibilities

Wyoming § 26-34-107

Title 26Insurance Code

Ch. 34HEALTH MAINTENANCE ORGANIZATIONS

This text of Wyoming § 26-34-107 (Fiduciary responsibilities) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 26-34-107 (2026).

Text

(a)Any director, officer, employee or partner of a health maintenance organization who receives, handles, collects, disburses or invests funds in connection with the activities of the organization is responsible for those funds in a fiduciary relationship to the organization and shall not violate the prohibitions specified in W.S. 26-24-127.

(b)A health maintenance organization shall maintain in force a fidelity bond on employees and officers in an amount not less than the greater of two hundred fifty thousand dollars ($250,000.00), ten percent (10%) of the organization's previous year's gross premiums or other amount the commissioner prescribes. All such bonds shall be written with at least a one

(1)year discovery period and if written with less than a three

(3)year discovery period s

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(a) Any director, officer, employee or partner of a health
maintenance organization who receives, handles, collects,
disburses or invests funds in connection with the activities of
the organization is responsible for those funds in a fiduciary
relationship to the organization and shall not violate the
prohibitions specified in W.S. 26-24-127.
(b) A health maintenance organization shall maintain in
force a fidelity bond on employees and officers in an amount not
less than the greater of two hundred fifty thousand dollars
($250,000.00), ten percent (10%) of the organization's previous
year's gross premiums or other amount the commissioner
prescribes. All such bonds shall be written with at least a one
(1) year discovery period and if written with less than a three
(3) year discovery period shall contain a provision that no
cancellation or termination of the bond, whether by or at the
request of the insured or by the underwriter is effective prior
to the expiration of ninety (90) days after written notice of
the cancellation or termination has been filed with the
commissioner unless the commissioner approves an earlier date of
cancellation or termination.
(c) A health maintenance organization shall not make any
disbursement of seventy-five dollars ($75.00) or more without
complying with the requirements specified for insurers in W.S.