Wyoming § 26-46-106 Penalties and liabilities

Wyoming Statutes

§ 26-46-106 — Penalties and liabilities

Wyoming § 26-46-106

Title 26Insurance Code

Ch. 46MANAGING GENERAL AGENTS

This text of Wyoming § 26-46-106 (Penalties and liabilities) 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. § 26-46-106 (2026).

Text

(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:

(i)For each separate violation, a civil penalty not to exceed five thousand dollars ($5,000.00);

(ii)For any agent or broker violating this article, revocation or suspension of the agent's or broker's license; and

(iii)The managing general agent 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 managing general agent.

(b)Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for by this code.

(c)Nothing contained in this article is inte

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(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:
(i) For each separate violation, a civil penalty not
to exceed five thousand dollars ($5,000.00);
(ii) For any agent or broker violating this article,
revocation or suspension of the agent's or broker's license; and
(iii) The managing general agent 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 managing general agent.
(b) Nothing contained in this section shall affect the
right of the commissioner to impose any other penalties provided
for by this code.
(c) Nothing contained in this article is intended to or
shall in any manner limit or restrict the rights of the
policyholders, claimants and creditors or other third parties.