Wyoming § 26-47-112 Penalties and liabilities

Wyoming Statutes

§ 26-47-112 — Penalties and liabilities

Wyoming § 26-47-112

Title 26Insurance Code

Ch. 47REINSURANCE INTERMEDIARIES

This text of Wyoming § 26-47-112 (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. § 26-47-112 (2026).

Text

(a)A reinsurance intermediary, insurer or reinsurer found by the commissioner to be in violation of any provision of this article, after a hearing conducted in accordance with W.S. 26-2-125 shall:

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

(ii)Be subject to revocation or suspension of its license; and

(iii)If a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to the violation.

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

(c)N

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(a) A reinsurance intermediary, insurer or reinsurer found
by the commissioner to be in violation of any provision of this
article, after a hearing conducted in accordance with W.S.
26-2-125 shall:
(i) For each separate violation, pay a penalty in an
amount not to exceed five thousand dollars ($5,000.00);
(ii) Be subject to revocation or suspension of its
license; and
(iii) If a violation was committed by the reinsurance
intermediary, the reinsurance intermediary shall make
restitution to the insurer, reinsurer, rehabilitator or
liquidator of the insurer or reinsurer for the net losses
incurred by the insurer or reinsurer attributable to the
violation.
(b) Nothing contained in this section shall affect the
right of the commissioner to impose any other penalties provided
in this code.
(c) Nothing contained in this article is intended to or
shall in any manner limit or restrict the rights of
policyholders, claimants, creditors or other third parties.