26-49-101. Scope and purposes. (a) The purpose of this article is to create a legal framework within which service contracts may be sold in this state. (b) The following are exempt from W.S. 26-49-103 through 26-49-111: (i) Warranties; (ii) Maintenance agreements; (iii) Warranties, service contracts and maintenance agreements offered by public utilities on their transmission […]
26-49-102. Definitions. (a) As used in this article: (i) “Administrator” means the person who is responsible for the administration of the service contracts or the service contracts plans or who is responsible for any filings required by this article; (ii) “Consumer” means a natural person who buys other than for purposes of resale any tangible […]
26-49-103. Requirements for doing business. (a) A provider may, but is not required to, appoint an administrator or other designee to be responsible for any or all of the administration of service contracts and compliance with this article. (b) Service contracts shall not be issued, sold or offered for sale in this state unless the […]
26-49-104. Required provisions; reimbursement insurance policy. (a) Reimbursement insurance policies insuring service contracts issued, sold or offered for sale in this state shall state that the insurer that issued the reimbursement insurance policy shall reimburse or pay on behalf of the provider any covered sums the provider is legally obligated to pay or shall provide […]
26-49-105. Required disclosures; service contracts. (a) Service contracts marketed, sold, offered for sale, issued, made, proposed to be made, or administered in this state shall be written, printed or typed in clear, understandable language that is easy to read and shall disclose the requirements set forth in this section, as applicable. (b) Service contracts insured […]
26-49-106. Prohibited acts. (a) A provider shall not use in its name the words insurance, casualty, surety, mutual or any other words descriptive of the insurance, casualty or surety business; or a name deceptively similar to the name or description of any insurance or surety corporation, or to the name of any other provider. The […]
26-49-107. Record keeping requirements. (a) The provider shall keep accurate accounts, books, and records concerning transactions regulated under this article. The provider s accounts, books and records shall include the following: (i) Copies of each type of service contract sold; (ii) The name and address of each service contract holder, to the extent that the […]
26-49-108. Cancellation of reimbursement insurance policy. As applicable, an insurer that issued a reimbursement insurance policy shall not terminate the policy until a notice of termination in accordance with chapter 35 of this code, has been mailed or delivered to the commissioner. The termination of a reimbursement insurance policy shall not reduce the issuer s […]
26-49-109. Obligations of reimbursement insurance policy insurers. (a) Providers are considered to be the agent of the insurer which issued the reimbursement insurance policy for purposes of obligating the insurer to service contract holders in accordance with the service contract and this article. In cases where a provider is acting as an administrator and enlists […]
26-49-110. Enforcement provisions. (a) The commissioner may conduct examinations of providers, administrators, insurers or other persons to enforce this article and protect service contract holders in this state. Upon request of the commissioner, the provider shall make all accounts, books and records concerning service contracts sold by the provider available to the commissioner which are […]
26-49-111. Authority to develop regulations. The commissioner may promulgate reasonable rules and regulations necessary to implement this article.
