(a) The Council shall conduct an annual review of each Wyoming small business investment company to determine if each Wyoming small business investment company is abiding by the requirements of statute and to ensure that no investment has been made in violation of this article. The fee for annual reviews shall be set by the board of directors of the Council and shall cover the actual direct and indirect costs of the review or certification.
(b) The Council shall notify a Wyoming small business investment company as soon as practicable if any material violation of statute has occurred that will cause decertification of the Wyoming small business investment company. The Council shall give up to 15 business days for a Wyoming small business investment company to cure any material violation that will lead to decertification.
(c) The Council shall provide written notice to the Insurance Commissioner and participating investor within ten (10) business days of any decertification proceedings and the amount of credits that will be disallowed due to the decertification.
085-1 Wyo. Code R. § 1-8