40-2d17. Mandatory control event; defined.

40-2d17

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

      40-2d17.   Mandatory control event; defined."Mandatory control event" means any of the following events:

      (a)   The filing of an RBC report by the health organization which indicatesthat the healthorganization's total adjusted capital is less than its mandatory control levelRBC;

      (b)   the notification by the commissioner to the health organization of anadjusted RBC reportthat indicates the event described in subsection (a) if:

      (1)   The health organization does not challenge the adjusted RBC reportpursuant to K.S.A. 40-2d19 and amendments thereto; or

      (2)   the commissioner has rejected such challenge.

      History:   L. 2000, ch. 147, § 18; July 1.