(a) Self-Insurance, Guarantee, Local Government Financial Test, or Local Government Guarantee. - (i) The application and letter from the Chief Financial Officer shall be executed on forms provided by the department.
- (ii) Audited financial statements prepared and certified by an independent certified public accountant shall accompany the self-insurance or guarantee financial test to document data submitted.
- (iii) In the case of a guarantee, the owner and/or operator shall submit documentation verifying the guarantor's power and authority to enter into guarantee agreements on behalf of the owner and/or operator.
- (iv) Within 60 days of owner and/or operator submission of all materials necessary to base a decision, the administrator shall make a determination on the self-insurance or guarantee financial test. The administrator shall approve or reject such application and declare, in writing, the reasons for such action. The decision shall be based on all information submitted to the department.
(b) Insurance and Risk Retention Group Coverage. - (i) The certificate of insurance shall be submitted on a form acceptable to the Department.
- (ii) The insurance shall be issued by a company licensed to do business in Wyoming.
- (iii) Surplus line carriers shall be in compliance with the surplus lines laws under the Wyoming Insurance Code.
- (iv) Risk retention groups shall be registered with the Wyoming Department of Insurance.
(c) Surety Bond. - (i) The surety bond shall be executed on forms provided by the department.
- (ii) The surety company shall be licensed to do business in Wyoming.
- (iii) The bond shall be signed by an authorized Wyoming resident agent.
(d) Letter of Credit. The letter of credit shall be executed in the format provided by the department.
(e) Trust Fund. The trust agreement shall be executed on forms provided by the department.
(f) Standby Trust Fund (required in conjunction with guarantee, surety bond, or letter of credit). The department's Trust and Agency Account shall serve as the standby trust fund.
(g) Bond Rating Test for Local Governments or Local Government Fund. The letter from the chief financial officer shall be executed on forms provided by the department.
(h) Local Government Fund. The letter from the chief financial officer shall be executed on forms provided by the department.
020-1 Wyo. Code R. § 1-55