Wyoming Statutes

§ 26-45-106 — Penalties and liabilities

Wyoming·Title 26 Insurance Code·Ch. 45 BROKER CONTROLLED INSURERS
(a)If the commissioner finds after a hearing conducted in accordance with W.S. 26-2-125 that any person has violated any provision of this article, the commissioner may order any or all of the following:
(i)For each separate violation, a civil penalty not to exceed five thousand dollars ($5,000.00);
(ii)For any controlling broker violating this article, revocation or suspension of the controlling broker's license;
(iii)The controlling broker to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this article committed by the controlling broker;
(iv)The controlling broker to cease placing business with the controlled insurer.
(b)Nothing contained in this section shall affect the right of the commissioner

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Nearby Sections

8
§ 26-45-101
Short title
§ 26-45-102
Definitions
§ 26-45-103
Applicability
§ 26-45-104
Minimum standards
§ 26-45-105
Disclosure
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