Exams / Wyoming Life Insurance License / Wyo. Stat. §26-3-102
Wyo. Stat. §26-3-102 — what it says, and how the exam tests it
This section is cited by 2 of our practice questions and is tested on 4 exams including the Wyoming Life Insurance License.
The text
26-3-102. When certificate not required. (a) A certificate of authority is not required of an insurer for: (i) Investigation, settlement or litigation of claims under its policies lawfully written in this state, or liquidation of its assets and liabilities, other than collection of new premiums, all resulting from its authorized operations in this state; (ii) Transactions thereunder subsequent to issuance of a policy covering only subjects of insurance not resident, located or expressly to be performed in this state at time of issuance and lawfully solicited, written and delivered outside this state; (iii) Transactions pursuant to coverages lawfully written under chapter 11 of this code; (iv) Reinsurance, except as to domestic reinsurers. (b) An insurer not transacting new insurance business in Wyoming but continuing collection of premiums on and servicing policies remaining in force as to residents of or risks located in Wyoming is transacting insurance in Wyoming for the purpose of premium tax requirements only and is not required to have a certificate of authority. This subsection does not apply to insurers which withdrew from Wyoming prior to May 21, 1955.
Public record. Read the full, current section at the official source: wyoleg.gov
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Wyoming law, which of the following activities does NOT require an insurer to hold a certificate of authority?
drill Wyoming Statutes and Rules Common to All Lines → - Under Wyoming law, which of the following activities does NOT require an insurer to hold a certificate of authority?
drill Wyoming Statutes, Rules, and Regulations Common to Life, Accident and Health, Property and Casualty Insurance →