375.1275. RBC reports for calendar year 1993, requirements--RBC reports for 1996, requirements--not applicable, when.
RBC reports for calendar year 1993, requirements--RBC reports for1996, requirements--not applicable, when.
375.1275. 1. For RBC reports required to be filed by life and healthinsurers with respect to 1993, the following requirements shall apply inlieu of the provisions of section 375.1255:
(1) In the event of a company action level event with respect to aninsurer, the director shall take no regulatory action;
(2) In the event of a regulatory action level event pursuant tosection 375.1257, the director shall take the actions required pursuant tosection 375.1255;
(3) In the event of a regulatory action level event pursuant tosection 375.1257 or an authorized control level event, the director shalltake the actions required pursuant to section 375.1257 with respect to theinsurer;
(4) In the event of a mandatory control level event with respect toan insurer, the director shall take the actions required pursuant tosection 375.1260 with respect to the insurer.
2. For RBC reports required to be filed by property and casualtyinsurers with respect to 1996, the following requirements shall apply inlieu of the provisions of sections 375.1255 to 375.1262:
(1) In the event of a company action level event with respect to adomestic insurer, the director shall take no regulatory action undersections 375.1250 to 375.1275;
(2) In the event of a regulatory action level event under subdivision(1), (2) or (3) of subsection 1 of section 375.1257, the director shalltake the actions required under section 375.1255;
(3) In the event of a regulatory action level event under subdivision(4), (5), (6), (7), (8) or (9) of subsection 1 of section 375.1257 or anauthorized control level event, the director shall take the actionsrequired under section 375.1257, with respect to the insurer;
(4) In the event of a mandatory control level event, the directorshall take the actions required under section 375.1260 with respect to theinsurer.
3. The actions required under sections 375.1255 to 375.1262 or thissection shall not apply to any insurer operating under the provisions ofsections 287.900 to 287.920, RSMo, which is under any order of supervision,including waivers of requirements for capital and surplus, issued orcommenced by the director prior to August 28, 1996. This provision shallremain in effect until such order or proceeding expires or is otherwiseterminated by further order of the director.
(L. 1993 H.B. 709 § 12, A.L. 1996 S.B. 759)