(a) A title insurer or title agent purporting to act under the provisions of W.S. 34-1-146 who reconveys a trust deed or releases a mortgage is liable for the damages suffered as a result of the reconveyance if the obligation secured by the trust deed or mortgage has not been fully paid and:
(i) The title insurer or title agent failed to comply with the provisions of W.S. 34-1-146 and 34-1-147; or (ii) The title insurer or title agent acted with gross negligence or in bad faith in reconveying the trust deed.