Wyoming Administrative Code
Agency 044 - Insurance Dept
Sub-Agency 0002 - General Agency, Board or Commission Rules
Chapter 28 - REGULATION GOVERNING PERPETUAL CARE TRUST FUNDS FOR PRIVATELY OWNED CEMETERIES
Section 28-4 - Bond

Universal Citation: WY Code of Rules 28-4
Current through September 21, 2024

Every seller shall post with the Commissioner a surety bond in an amount of not less than five percent (5%) of all amounts received from all buyers or their representatives, whether deposited or invested. The bond amount shall be determined as of December 31st of the preceding year, or such greater amount which the seller may wish to post, but in no event less than $10,000. The bond amount of may not be reduced without the prior written approval of the Commissioner. The State of Wyoming shall be named as the obligee in the bond for the benefit of the buyers, their heirs, legatees, or assigns who are damaged by the loss of any monies paid to the seller after their receipt by the seller. This bond may consist of cash, demand deposits, savings accounts, certificates of deposit, corporate surety bond, or other such security as the Commissioner shall require.

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