40-2c12. Regulatory action level event; commissioner's duties.

40-2c12

Chapter 40.--INSURANCE Article 2c.--RISK-BASED CAPITAL REQUIREMENTS

      40-2c12.   Regulatory action level event; commissioner's duties.In the event of a regulatory action level event, thecommissioner shall:

      (a)   Require the insurer to prepare and submit an RBC plan or, if applicable,a revised RBC plan;

      (b)   perform such examination or analysis as the commissioner deems necessaryof the assets, liabilities and operations of the insurer including a review ofits RBC plan or revised RBC plan; and

      (c)   subsequent to the examination or analysis, issue a corrective orderspecifying such actions as the commissioner determines are required.

      History:   L. 1994, ch. 138, § 12; July 1.