40-2d12. Regulatory action level event; commissioner's duties.

40-2d12

Chapter 40.--INSURANCE Article 2d.--HEALTH ORGANIZATION RISK-BASED CAPITAL REQUIREMENTS

      40-2d12.   Regulatory action level event;commissioner's duties.In the event of a regulatory action level event, thecommissioner shall:

      (a)   Require the health organization to prepare and submit an RBC plan or, ifapplicable, a revised RBC plan;

      (b)   perform such examination or analysis as the commissioner deems necessaryof the assets, liabilities and operations of the health organization includinga review of its 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. 2000, ch. 147, § 13; July 1.