Exams / Wyoming Life Insurance License / Wyo. Stat. §26-3-121
Wyo. Stat. §26-3-121 — what it says, and how the exam tests it
This section is cited by 3 of our practice questions and is tested on 3 exams including the Wyoming Life Insurance License.
The text
26-3-121. Service of process; commissioner as agent for service. (a) Before the commissioner issues a certificate of authority to any foreign, alien or domestic reciprocal insurer, each insurer shall appoint the commissioner, and his successors in office, as its attorney to receive service of legal process issued against the insurer in this state. The appointment shall be made on a form as designated and furnished by the commissioner and shall be accompanied by a copy of a resolution of the insurer's governing body, if an incorporated insurer, showing that the officers who executed the appointment were authorized to do so on the insurer's behalf. (b) The appointment is irrevocable, binds the insurer and any successor in interest as to the insurer's assets or liabilities and remains in effect as long as there is in force any contract of the insurer in this state or any obligation of the insurer arising out of its transactions in this state. (c) Service of process against a foreign or alien insurer shall be made only by service thereof upon the commissioner. (d) At time of application for a certificate of authority the insurer shall file the appointment with the commissioner, together with a designation of the person to whom process against it served upon the commissioner is to be forwarded. The insurer may change that designation by a new filing. 26-3-122. Service of process; service generally. (a) Service of process against an insurer for whom the commissioner is attorney shall be made by delivering to and leaving with the commissioner, his deputy or a person in apparent charge of his office during the commissioner's absence, two (2) copies of the process together with a fee as provided in W.S. 26-4-101, taxable as costs in the action. (b) In case the process is issued by an inferior court, it may be directed to and served in duplicate by an officer authorized to serve process in the city or county of the commissioner's office, at least fifteen (15) days before the return day thereof, and that service confers jurisdiction. (c) Upon service the commissioner shall immediately mail by certified mail one (1) of the copies of the process to the person currently designated by the insurer to receive the process as provided in W.S. 26-3-121(d). (d) Service of process is sufficient if: (i) Notice of that service and a copy of the process are sent within ten (10)…
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, an authorized insurer's quarterly financial statement must be filed with the commissioner within how many days from the end of the reported quarter?
drill Wyoming Statutes, Rules, and Regulations Common to Life, Accident and Health, Property and Casualty Insurance → - Under Wyoming law, an authorized insurer must file its annual financial statement with the commissioner on or before what date?
drill Wyoming Statutes, Rules, and Regulations Common to Life, Accident and Health, Property and Casualty Insurance → - Under Wyoming law, when serving process on a foreign insurer through the commissioner, how many copies of the process must be delivered to the commissioner?
drill Wyoming Statutes, Rules, and Regulations Common to Life, Accident and Health, Property and Casualty Insurance →