26-9-211. License denial, nonrenewal or revocation.

(a) The commissioner may, after appropriate notice and opportunity for hearing pursuant to the Wyoming Administrative Procedure Act and in accordance with W.S. 26-2-125 through 26-2-129, place on probation, suspend, revoke or refuse to issue or renew an insurance producer's license or other license issued under this code, or may levy a civil penalty in accordance with W.S. 26-1-107 or any combination of actions, for any one (1) or more of the following causes:

(i) Providing incorrect, misleading, incomplete or materially untrue information in the license application;

(ii) Violating any insurance laws, or violating any regulation, subpoena or order of the commissioner or of another state's insurance commissioner;

(iii) Obtaining or attempting to obtain a license through misrepresentation or fraud;

(iv) Improperly withholding, misappropriating or converting any monies or properties received in the course of doing insurance business;

(v) Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance;

(vi) Having been convicted of a felony that relates to the insurance profession or to the ability to practice as an insurance producer. For agents whose home state of licensure is not Wyoming, the commissioner may rely on licensure and disciplinary actions by the agent s home state of licensure;

(vii) Having admitted or been found to have committed any insurance unfair trade practice or fraud;

(viii) Using fraudulent, coercive or dishonest practices, or demonstrating incompetence, untrustworthiness or financial irresponsibility in the conduct of business in this state or elsewhere;

(ix) Having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory;

(x) Forging another's name to an application for insurance or to any document related to an insurance transaction;

(xi) Improperly using notes or any other reference material to complete an examination for an insurance license;

(xii) Failing to comply with an administrative or court order imposing a child support obligation;

(xiii) Failing to maintain a valid home state license.

(b) The license of a business entity may be suspended, revoked or refused if the commissioner finds, after notice and opportunity for hearing, that an individual licensee's violation was known by one (1) or more of the partners, officers or managers acting on behalf of the business entity and the violation was neither reported to the commissioner nor corrective action taken.

(c) The commissioner shall retain the authority to enforce the provisions of and impose any penalty or remedy authorized by this chapter and this code against any person who is under investigation for or charged with a violation of this chapter or this code even if the person's license or registration has been surrendered or has lapsed by operation of law.

(d) The commissioner may, after providing appropriate notice and opportunity for hearing as required in subsection (a) of this section, levy against any person against whom action has been taken by the commissioner the reasonable costs of investigation and administrative proceedings, not to exceed five hundred dollars ($500.00).

(e) For persons for whom Wyoming is the home state of licensure, if the commissioner is aware at the time the commissioner takes an action under subsection (a) of this section that a person will require the written consent of an insurance regulatory official to engage in the business of insurance pursuant to 18 U.S.C. § 1033 and the result of the action under subsection (a) of this section is that the person will receive or retain a license under this code, the commissioner shall, upon request, issue the written consent.

(f) If an employer becomes aware that an employee who is engaged in the business of insurance needs the commissioner's consent to continue to engage in the business of insurance, the employer may direct the employee to obtain the necessary consent and, if the consent is denied, shall take action so that the employee is not engaged in the business of insurance. In cases arising under this subsection the commissioner shall give special weight to evidence, including statements from the employer, as to whether the employee has or has not engaged in any activity that relates to the offense requiring the written consent and that relates adversely to the insurance profession.