Regulation Governing Premium Trust Accounts - REGULATION

What this document is

Wyo. Admin. Rules, Insurance Dept. (044), General Agency Rules ch. 46 - Regulation Governing Premium Trust Accounts - REGULATION is a regulation published by Wyoming Department of Insurance, Administrative Rules (rules.wyo.gov). It is one of the Wyoming documents that insurance license exam questions are written from, including wyoming property & casualty, wyoming personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

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Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Wyo. Admin. Rules, Insurance Dept. (044), General Agency Rules ch. 46 § 3(b) (Regulation Governing Premium Trust Accounts, Establishment of Trust Account)

  “(b) The licensee may establish the trust account with an initial deposit of the licensee's own funds only if such deposit is required to open the account, or to avoid bank charges or fees for maintaining the account. The deposit of the licensee's own funds shall not exceed the amount required to...”

• Wyo. Admin. Rules, Insurance Dept. (044), General Agency Rules ch. 46 § 4(b)(iv)(A) (Regulation Governing Premium Trust Accounts, Deposit of Funds)

  “(A) If the credit results in a credit balance on the insured's account, the credit shall be returned by the close of the fifth (5th) business day following the billing statement unless the licensee receives written authorization from the insured to retain the credit balance and other developed...”

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