§ 26-36-109 — Notice and registration requirements of purchasing groups

Wyoming § 26-36-109

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 36: RISK RETENTION

Text

(a) A purchasing group which intends to do business in
this state shall furnish notice to the commissioner which shall:
(i) Identify the state in which the group is
domiciled;
(ii) Specify the lines and classifications of
liability insurance which the purchasing group intends to
purchase;
(iii) Identify the insurance company from which the
group intends to purchase its insurance and the domicile of such
company;
(iv) Identify the principal place of business of the
group; and
(v) Provide such other information as may be required
by the commissioner to verify that the purchasing group is
qualified under W.S. 26-36-103(a)(x).
(b) The purchasing group shall register with and designate
the commissioner as its agent solely for the purpose of
receiving service of legal documents or process, except that
such requirements shall not apply in the case of a purchasing
group:
(i) Which was domiciled before April 1, 1986, and is
domiciled on and after October 27, 1986 in any state of the
United States;
(ii) Which before October 27, 1986 purchased
insurance from an insurance carrier licensed in any state, and
since October 27, 1986 purchased its insurance from an insurance
carrier licensed in any state;
(iii) Which was a purchasing group under the
requirements of the Product Liability Risk Retention Act of 1981
before October 27, 1986; and
(iv) Which does not purchase insurance that was not
authorized for purposes of an exemption under that act, as in
effect before October 27, 1986.