26-9-201. Purpose and scope. This chapter governs the qualifications and procedures for the licensing of insurance producers. This chapter does not apply to excess and surplus lines brokers licensed pursuant to W.S. 26-11-112 except as provided in W.S. 26-9-207(b), 26-9-207(c), 26-9-207(g), 26-9-208 and 26-9-230 or as expressly provided in chapter 11 of this code. Note: […]
26-9-202. Definitions. (a) As used in this chapter: (i) “Business entity” means a corporation, association, partnership, limited liability company, limited liability partnership or other legal entity; (ii) “Endorsee” means an employee or representative of a specialty limited lines producer; (iii) “Home state” means the District of Columbia and any state or territory of the United […]
26-9-203. License required. A person shall not sell, solicit or negotiate insurance in this state for any class or classes of insurance unless the person is licensed for that line of authority in accordance with this chapter.
26-9-204. Exceptions to licensing. (a) Nothing in this chapter shall be construed to require an insurer to obtain an insurance producer license. As used in this section, the term “insurer” does not include an insurer’s officers, directors, employees, subsidiaries or affiliates. (b) A license as an insurance producer shall not be required of the following: […]
26-9-205. Application for examination. (a) A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to W.S. 26-9-209. The examination shall test the knowledge of the individual concerning the lines of authority for which application is made, the duties and responsibilities of an insurance producer and the insurance […]
26-9-206. Application for license. (a) A person applying for a resident insurance producer license shall make application to the commissioner on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual’s knowledge […]
26-9-207. License. (a) Unless denied licensure pursuant to W.S. 26-9-211, persons who have met the requirements of W.S. 26-9-205 and 26-9-206 shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one (1) or more of the following lines of authority: (i) Life-insurance coverage on human lives including […]
26-9-208. Nonresident licensing. (a) Unless denied licensure pursuant to W.S. 26-9-211, a nonresident person shall receive a nonresident producer license if: (i) The person is currently licensed as a resident and is in good standing in his home state; (ii) The person has submitted the proper request for licensure and has paid the fees required […]
26-9-209. Exemption from examination. (a) An individual who applies for an insurance producer license in this state who was previously licensed for the same lines of authority in another state shall not be required to complete an examination. This exemption is only available if the person is currently licensed in that state or if the […]
26-9-210. Temporary licensing. (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 […]
26-9-211. License denial, nonrenewal or revocation. (a) The commissioner may, after appropriate notice and opportunity for hearing pursuant to the Wyoming Administrative Procedure Act and in accordance with W.S. 26-2-125 through 26-2-129, place on probation, suspend, revoke or refuse to issue or renew an insurance producer’s license or other license issued under this code, or […]
26-9-212. Commissions. (a) An insurer or insurance producer shall not pay a commission, service fee, brokerage or other valuable consideration to a person for selling, soliciting or negotiating insurance in this state if that person is required to be licensed under this chapter and is not so licensed. (b) A person shall not accept a […]
26-9-213. Appointments. (a) An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed. (b) To appoint a producer as its agent, the appointing […]
26-9-214. Notification to commissioner of termination. (a) An insurer or authorized representative of the insurer that terminates the appointment, employment, contract or other insurance business relationship with a producer for any reason shall notify the commissioner within thirty (30) days following the effective date of the termination, using a format prescribed by the commissioner. Upon […]
26-9-215. Reciprocity. (a) The commissioner shall waive any requirements for a nonresident license applicant with a valid license from his home state, except the requirements imposed by W.S. 26-9-208, if the applicant’s home state awards nonresident licenses to residents of this state on the same basis. (b) In order to carry out the provisions of […]
26-9-216. Reporting of actions. (a) A resident or nonresident insurance producer shall report to the commissioner any administrative action taken against the producer in another jurisdiction or by another governmental agency in this state within thirty (30) days of the final disposition of the matter. This report shall include a copy of the order, consent […]
26-9-217. Regulations; limitation. (a) The commissioner may, in accordance with W.S. 26-2-110 promulgate reasonable regulations as are necessary or proper to carry out the purposes of this chapter. (b) Repealed By Laws 2007, Ch. 43, § 1.
26-9-219. Adjuster’s license; exception; notification. (a) Application for license as an adjuster shall be made to the commissioner on forms he prescribes and furnishes. The commissioner shall issue the license as to qualified individuals upon payment of the license application fee stated in W.S. 26-4-101. An adjuster may qualify for a license in one (1) […]
26-9-220. Insurance consultants. (a) No person shall be held out to the public as an insurance consultant for hire unless a license as such has been issued in accordance with this section. (b) An application for a license to act as an insurance consultant for hire shall be made to the commissioner on forms he […]
26-9-224. Scope of broker’s authority; broker’s commissions. (a) Any insurance producer acting in the capacity of a broker is not an agent or other representative of an insurer and does not have power by his own acts to obligate the insurer upon any risk or by any insurance transaction. (b) An insurer or insurance producer […]
