Wyoming § 26-5-114 Qualified United States financial institutions

Wyoming Statutes

§ 26-5-114 — Qualified United States financial institutions

Wyoming § 26-5-114

Title 26Insurance Code

Ch. 5KINDS OF INSURANCE, LIMITS OF RISK, REINSURANCE

This text of Wyoming § 26-5-114 (Qualified United States financial institutions) 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. § 26-5-114 (2026).

Text

(a)For purposes of W.S. 26-5-113(a)(iii), a "qualified United States financial institution" means an institution that:

(i)Is organized or, in the case of a United States office of a foreign banking organization licensed, under the laws of the United States or any state thereof;

(ii)Is regulated, supervised and examined by United States federal or state authorities having regulatory authority over banks and trust companies; and

(iii)Has been determined by either the commissioner, or the securities valuation office of the National Association of Insurance Commissioners, to meet such standards of financial condition and standing as are considered necessary and appropriate to regulate the quality of financial institutions whose letters of credit will be acceptable to the commissioner.

(b)

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(a) For purposes of W.S. 26-5-113(a)(iii), a "qualified
United States financial institution" means an institution that:
(i) Is organized or, in the case of a United States
office of a foreign banking organization licensed, under the
laws of the United States or any state thereof;
(ii) Is regulated, supervised and examined by United
States federal or state authorities having regulatory authority
over banks and trust companies; and
(iii) Has been determined by either the commissioner,
or the securities valuation office of the National Association
of Insurance Commissioners, to meet such standards of financial
condition and standing as are considered necessary and
appropriate to regulate the quality of financial institutions
whose letters of credit will be acceptable to the commissioner.
(b) A "qualified United States financial institution"
means, for purposes of those provisions of W.S. 26-5-112 and
26-5-113 specifying those institutions that are eligible to act
as a fiduciary of a trust, an institution that:
(i) Is organized or, in the case of a United States
branch or agency office of a foreign banking organization
licensed, under the laws of the United States or any state
thereof and has been granted authority to operate with fiduciary
powers; and
(ii) Is regulated, supervised and examined by federal
or state authorities having regulatory authority over banks and
trust companies.