§ 26-9-210 — Temporary licensing

Wyoming § 26-9-210

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 9: AGENCIES AND ADJUSTERS

Text

(a) The commissioner may issue a temporary insurance
producer license for a period not to exceed one hundred eighty
(180) days without requiring an examination if the commissioner
deems that the temporary license is necessary for the servicing
of an insurance business in the following cases:
(i) To the surviving spouse or court-appointed
personal representative of a licensed insurance producer who
dies or becomes mentally or physically disabled to allow
adequate time for the sale of the insurance business owned by
the producer or for the recovery or return of the producer to
the business or to provide for the training and licensing of new
personnel to operate the producer's business;
(ii) To a member or employee of a business entity
licensed as an insurance producer, upon the death or disability
of an individual designated in the business entity application
or the license;
(iii) To the designee of a licensed insurance
producer entering active service in the armed forces of the
United States; or
(iv) In any other circumstance where the commissioner
deems that the public interest will best be served by the
issuance of this license.
(b) The commissioner may by order limit the authority of
any temporary licensee in any way deemed necessary to protect
insureds and the public. The commissioner may require the
temporary licensee to have a suitable sponsor who is a licensed
producer or insurer and who assumes responsibility for all acts
of the temporary licensee and may impose other similar
requirements designed to protect insureds and the public. The
commissioner may by order revoke a temporary license if the
interest of insureds or the public are endangered. A temporary
license may not continue after the owner or the personal
representative disposes of the business.