Title 26, Title 26 — Insurance Code

Board of directors. (a) The board of directors of the association consists of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation provided by W.S. 26-42-108. Membership on the board shall be subject to the following:…

Powers and duties of the association. (a) If a member insurer is an impaired insurer, the association may in its discretion and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, that are approved by the co…

Assessments. (a) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers separately for each account and at a time and for amounts as the board finds necessary. Assessments are…

Plan of operation. (a) The association shall maintain a plan of operation to assure the fair, reasonable and equitable administration of the association. The plan of operation and any amendments to the plan of operation shall be submitted to the commissioner and are effective upo…

Duties and powers of the commissioner. (a) In addition to the duties and powers enumerated in other provisions of this act, the commissioner shall: (i) Upon request of the board of directors, provide the association with a statement of the premiums in this and any other appropria…

Prevention of insolvencies. (a) To aid in the detection and prevention of member insurer insolvencies or impairments, the commissioner shall: (i) Notify the commissioners of all the other states, territories of the United States and the District of Columbia by mail within thirty …

Credits for assessments paid; tax offsets. (a) A member insurer may offset against its premium tax liability to this state an assessment described in W.S. 26-42-107(k) to the extent of ten percent (10%) of the amount of the assessment for each of the ten (10) calendar years follo…

Assessment liability; records; assets; proceedings against impaired or insolvent insurer. (a) This act shall not be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability. (b) R…

Examination of the association; annual report. The association is subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner each year not later than one hundred twenty (120) days after the association's fiscal year, a finan…

Tax exemptions. The association is exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real property.

Stay of proceedings; reopening default judgments. All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed one hundred eighty (180) days from the date an order of liquidation, rehabilitation or conservation is final to permit proper leg…

Prohibited advertisement of association chapter in insurance sales; notice. (a) No person including a member insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate or place before the public, or cause directly or indirectly to be made, published, di…

Immunity. Except as provided by W.S. 26-42-106(r)(ii), 26-42-109(b) and 26-42-112, there shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the association or its agents or employees, member…

Prospective application. (a) Except as provided in subsection (b) of this section, this act shall apply to any member insurer which is placed under an order of liquidation with a finding of insolvency on or after July 1, 2014. (b) The amendments provided in the 2014 amendments to…