26-3-111, levy on that deposit is permitted if provided in the

26-3-111, levy on that deposit is permitted if provided in the commissioner's order under which the deposit is required.

26-8-112. 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 sufficient to cure the deficiency. If the insurer fails to cure the deficiency within twenty (20) days after receipt of notice thereof by registered or certified mail from the commissioner, the commissioner shall revoke the insurer's certificate of authority.

26-8-113. 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 insurer as to which the deposit was so required; or

(ii) The basis of retaliation exists if the deposit was required under W.S. 26-3-130.

(b) Upon a domestic insurer's request, the commissioner shall return to the insurer the whole or any portion of its assets held on deposit if the commissioner is satisfied that the assets to be returned are not subject to liability and are not required to be longer held by any provision of law or purposes of the original deposit. If the insurer has reinsured all its outstanding risks in another insurer authorized to transact insurance in this state, the commissioner shall deliver the assets and securities to the insurer assuming the risks, upon the domestic insurer's written notice that the assets have been assigned and transferred to the reinsuring insurer. The notice shall be accompanied by a verified copy of the assignment or transfer.

(c) The commissioner shall return any deposit made in this state by a foreign insurer, if that insurer ceases transacting insurance in this state and is not subject to any liability in this state for which the deposit was held.

(d) If the insurer is subject to delinquency proceedings as defined in W.S. 26-28-101, upon the order of a court of competent jurisdiction the commissioner shall yield the insurer's assets held on deposit to the insurer's receiver, conservator, rehabilitator or liquidator, or to any other properly designated official who succeeds to the management and control of the insurer's assets.

(e) No release of deposited assets shall be made except upon application to and the written order of the commissioner. The commissioner has no personal liability for any release of any deposit or part thereof he makes in good faith.

26-8-114. 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 brought upon his bond by any person injured by the failure.

ARTICLE 2 HOLDING OF SECURITIES

26-8-201. 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 deposit requirements pursuant to the laws of a foreign country as a condition of doing business therein, clearing corporation may include a corporation which is organized or existing under the laws of any foreign country and is legally qualified under those laws to effect transactions in securities by computerized book-entry. Clearing corporation also includes the "treasury/reserve automated debt entry securities system" and the "treasury direct" book-entry securities systems established pursuant to 31 U.S.C. § 3100, et seq., 12 U.S.C. part 391 and 5 U.S.C. part 301;

(ii) Repealed By Laws 2007, Ch. 44, § 3.

(iii) Repealed By Laws 2007, Ch. 44, § 3.

(iv) Repealed By Laws 2007, Ch. 44, § 3.

(v) "Security" means as defined in W.S. 34.1-8-102(a)(xv);

(vi) "Custodian" means a national bank, state bank or a trust company which participates in a clearing corporation.

26-8-202. 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 securities are deposited with a clearing corporation, certificates representing securities of the same class of the same issuer may be merged and held in bulk in the name of the nominee of the clearing corporation with any other securities deposited with the clearing corporation by any person, regardless of the ownership of the securities, and certificates representing securities of small denominations may be merged into one (1) or more certificates of larger denominations. The records of any custodian through which an insurer holds securities in a clearing corporation, shall at all times show that the securities are held for the insurer and the accounts in which they are held. Ownership of, and other interests in, the securities may be transferred by bookkeeping entry on the books of the clearing corporation without physical delivery of certificates representing the securities.

(b) The commissioner is authorized to promulgate rules and regulations governing the deposit by insurers of securities with clearing corporations, including establishing standards for national banks, state banks and trust companies to qualify as custodians for insurance company securities.

26-8-203. 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 forth in chapter 3 of this code shall be under the control of the commissioner and shall not be withdrawn by the insurer without the approval of the commissioner. Any insurer holding securities in this manner shall provide to the commissioner evidence issued by its custodian through which the insurer has deposited the securities in a clearing corporation in order to establish that the securities are actually recorded in an account in the name of the custodian and that the records of the custodian reflect that the securities are held subject to the order of the commissioner.

26-8-204. 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 this state may be deposited with a clearing corporation. Securities deposited with a clearing corporation and used to meet the deposit requirements under the insurance laws of this state shall be under the control of the commissioner and shall not be withdrawn by the insurer without the approval of the commissioner. Any insurer holding securities in this manner shall provide to the commissioner evidence issued by its custodian in order to establish that the securities are actually recorded in an account in the name of the custodian and evidence that the records of the custodian reflect that the securities are held subject to the order of the commissioner.

CHAPTER 9 - AGENCIES AND ADJUSTERS

ARTICLE 1 IN GENERAL

26-9-101. Repealed by Laws 2001, Ch. 201, § 5.

26-9-102. Repealed by Laws 2001, Ch. 201, § 5.  26-9-103. Repealed by Laws 2001, Ch. 201, § 5.

26-9-104. Amended and renumbered as W.S. 26-9-226 by Laws 2001, Ch. 201, § 3.

26-9-105. Repealed by Laws 2001, Ch. 201, § 5.

26-9-106. Repealed by Laws 2001, Ch. 201, § 5.

26-9-107. Repealed by Laws 2001, Ch. 201, § 5.

26-9-108. Repealed by Laws 2001, Ch. 201, § 5.

26-9-109. Repealed by Laws 2001, Ch. 201, § 5.

26-9-110. Repealed by Laws 2001, Ch. 201, § 5.

26-9-111. Repealed by Laws 2001, Ch. 201, § 5.

26-9-112. Repealed by Laws 2001, Ch. 201, § 5.

26-9-113. Repealed by Laws 2001, Ch. 201, § 5.

26-9-114. Repealed by Laws 2001, Ch. 201, § 5.

26-9-115. Repealed by Laws 2001, Ch. 201, § 5.

26-9-116. Amended and renumbered as W.S. 26-9-227 by Laws 2001, Ch. 201, § 3.

26-9-117. Repealed by Laws 2001, Ch. 201, § 5.

26-9-118. Repealed by Laws 2001, Ch. 201, § 5.

26-9-119. Repealed by Laws 2001, Ch. 201, § 5.

26-9-120. Repealed by Laws 2001, Ch. 201, § 5.

26-9-121. Repealed by Laws 2001, Ch. 201, § 5.

26-9-122. Repealed by Laws 2001, Ch. 201, § 5.

26-9-123. Repealed by Laws 2001, Ch. 201, § 5.

26-9-124. Amended and renumbered as W.S. 26-9-223 by Laws 2001, Ch. 201, § 3.  26-9-125. Amended and renumbered as W.S. 26-9-224 by Laws 2001, Ch. 201, § 3.

26-9-126. Amended and renumbered as W.S. 26-9-225 by Laws 2001, Ch. 201, § 3.

26-9-127. Repealed by Laws 2001, Ch. 201, § 5.

26-9-128. Repealed by Laws 2001, Ch. 201, § 5.

26-9-129. Amended and renumbered as W.S. 26-9-228 by Laws 2001, Ch. 201, § 3.

26-9-130. Amended and renumbered as W.S. 26-9-229 by Laws 2001, Ch. 201, § 3.

26-9-131. Repealed by Laws 2001, Ch. 201, § 5.

26-9-132. Repealed by Laws 2001, Ch. 201, § 5.

26-9-133. Repealed by Laws 2001, Ch. 201, § 5.

26-9-134. Amended and renumbered as W.S. 26-9-230 by Laws 2001, Ch. 201, § 3.

26-9-135. Amended and renumbered as W.S. 26-9-219 by Laws 2001, Ch. 201, § 3.

26-9-136. Repealed by Laws 2001, Ch. 201, § 5.

26-9-137. Repealed by Laws 2001, Ch. 201, § 5.

26-9-138. Renumbered as W.S. 26-9-232 by Laws 2001, Ch. 201, § 4.

26-9-139. Amended and renumbered as W.S. 26-9-220 by Laws 2001, Ch. 201, § 3.

26-9-140. Amended and renumbered as W.S. 26-9-221 by Laws 2001, Ch. 201, § 3.

26-9-141. Amended and renumbered as W.S. 26-9-231 by Laws 2001, Ch. 201, § 3.

26-9-142. Amended and renumbered as W.S. 26-9-222 by Laws 2001, Ch. 201, § 3.  ARTICLE 2 INSURANCE PRODUCERS

26-9-201. Purpose and scope.

This chapter governs the qualifications and procedures for the licensing of insurance producers. This chapter does not apply to excess and surplus lines brokers licensed pursuant to W.S.