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Section 26-37-107 - Mechanical Breakdown Insurance Organizations; Revocation or Suspension of Certificate of Authority.

WY Stat § 26-37-107 (2019) (N/A)
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26-37-107. Mechanical breakdown insurance organizations; revocation or suspension of certificate of authority.

(a) The commissioner shall revoke or suspend the certificate of authority issued to any mechanical breakdown insurance organization under W.S. 26-37-106 if after a hearing in accordance with W.S. 26-2-125 through 26-2-129, he finds the organization:

(i) Violates any provision of this chapter or chapter 13 of this code;

(ii) Is insolvent;

(iii) Has assets less than its liabilities;

(iv) Refuses or any officer refuses to submit to an examination; or

(v) Is transacting business fraudulently.

(b) The commissioner shall give public notice of any revocation or suspension under this section in a manner he deems proper.

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Section 26-37-106 - Mechanical Breakdown Insurance Organizations; Applications for Certificates of Authority; Fee; Issuance.
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Section 26-37-108 - Mechanical Breakdown Insurance Organizations; Bond, Deposit or Contractual Liability Insurance Requirement; Amounts; Purpose; Release; Modification of Initial Order.