As used in these regulations management contracts shall include all agreements or contracts under which any individual, firm or corporation is appointed by one (1) or more insurers as an independent contractor for the principal purpose of exercising general supervision over the business of the insurer in all or part of Wyoming. Such contracts shall expressly grant the Managing General Agent authority to appoint agents for the insurers and to terminate those appointments.
044-29 Wyo. Code R. § 29-4