Wyoming Administrative Code
Agency 044 - Insurance Dept
Sub-Agency 0002 - General Agency, Board or Commission Rules
Chapter 46 - REGULATION GOVERNING PREMIUM TRUST ACCOUNTS
Section 46-7 - Record Keeping
Current through September 21, 2024
All licensees who maintain and use a trust account shall maintain, at the principal place of business, accurate accounting records kept on a consistent basis which will facilitate an audit trail. The records shall show, at a minimum, the following:
(a) Any written authorization from the insured to retain credit balances, income, or funds placed in the premium trust account, or from an insurer to retain income on funds placed in the premium trust account;
(b) The existence and the source of any fees and commissions in the trust account;
(c) That a generally accepted form of reconciliation has been completed on a monthly basis showing transfers into and out of the account.
