§ 26-36-116 — 26-36-104. Risk retention groups chartered in this state

Wyoming § 26-36-116

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

Text

A risk retention group seeking to be chartered in this state
must be chartered and licensed as a liability insurance company
authorized by the insurance laws of this state and, except as
provided elsewhere in this act, must comply with all of the
laws, rules, regulations and requirements applicable to such
insurers chartered and licensed in this state and with W.S.
26-36-106 to the extent such requirements are not a limitation
on laws, rules, regulations or requirements of this state.
Before it may offer insurance in any state, each risk retention
group shall also submit for approval to the insurance
commissioner of this state a plan of operation or a feasibility
study and revisions of such plan or study if the group intends
to offer any additional lines of liability insurance.
Immediately upon receipt of an application for charter, this
state shall provide summary information concerning the filing to
the National Association of Insurance Commissioners, including
the name of the risk retention group, the identity of the
initial members of the group, the identity of those individuals
who organized the group or who will provide administrative
services or otherwise influence or control the activities of the
group, the amount and nature of initial capitalization, the
coverages to be afforded and the states in which the group
intends to operate. Providing notification to the National
Association of Insurance Commissioners is in addition to and
shall not be sufficient to satisfy the requirements of W.S.
26-36-106 and all other sections of this act.