Title 26, Insurance Code

Custodial arrangements. (a) Instead of deposit into safe deposit as provided in W.S. 26-8-104, upon the insurer's written request the commissioner may permit the insurer to make and maintain the deposit under custodial arrangements with the trust department of an established bank…

Commissioner's record of deposits; vouchers as to assets deposited. (a) The commissioner shall: (i) Give the depositing insurer vouchers as to assets deposited with him; (ii) Keep a record of the assets comprising each insurer's deposit, showing as far as practical the amount and…

Assignment or transfer of securities deposited to commissioner. Any assets deposited by an insurer and not negotiable by delivery shall be assigned or transferred to the commissioner and his successors in office. Upon release of any such security or asset to the insurer, the comm…

Appraisal of securities deposited. Prior to acceptance for deposit of any asset, or at any time thereafter while so deposited, the commissioner may have the asset appraised or valued by competent appraisers. The insurer shall bear the reasonable costs of the appraisal or valuatio…

When excess deposits may be required. (a) If assets deposited by an insurer under this chapter are subject to material fluctuations in market value, the commissioner may require the insurer to deposit and maintain on deposit additional assets in an amount reasonably necessary to …

Rights of solvent insurer. (a) If the insurer is solvent and in compliance with this code it may: (i) Demand, receive, sue for and recover the income from the assets deposited; (ii) Exchange and substitute for the deposited assets, or any part thereof, other eligible securities a…

Levy upon deposit. No judgment creditor or other claimant of an insurer has the right to levy upon any of the assets held in this state as a deposit for the protection of the insurer's policyholders or creditors or both. As to a deposit made pursuant to W.S. 26-3-111, levy on tha…

Deficiency of deposit; failure to cure. If for any reason the market value of an insurer's assets held on deposit in this state as required under this code falls below the required amount, the insurer shall promptly deposit other or additional assets eligible for deposit sufficie…

Duration and release of deposit. (a) Any deposit an insurer makes in this state pursuant to this code, including assets held in another state under custodial arrangements permitted by W.S. 26-8-105(b), shall be held as long as: (i) There is outstanding any liability of the insure…

Commissioner's liability. If the commissioner willfully fails to require, deposit, keep, account and receipt for, or surrender in the manner by law authorized or required any assets as provided in this code, he is responsible upon his official bond therefor and suit may be brough…

Definitions. (a) As used in this article: (i) "Clearing corporation" means a corporation as defined in W.S. 34.1-8-102(a)(v), except that with respect to securities issued by institutions organized or existing under the laws of any foreign country or securities used to meet the d…

Use of book-entry systems. (a) Notwithstanding any other provision of law, but subject to W.S. 26-24-129, a domestic insurer may deposit or arrange for the deposit of securities held in or purchased for its general account and its separate accounts in a clearing corporation. When…

Deposit of securities by insurers. Notwithstanding any other provision of law, the securities qualified for deposit under this chapter may be deposited with a clearing corporation. Securities deposited with a clearing corporation and used to meet the deposit requirements set fort…

Deposit of securities by foreign insurers. Notwithstanding any other provision of law, securities eligible for deposit under the insurance laws of this state relating to deposit of securities by an insurer as a condition of commencing or continuing to do an insurance business in …