Section 404-F:14 Phase-in Provision.
I. For RBC reports required to be filed by life insurers with respect to 1993, the following requirements shall apply in lieu of the provisions of RSA 404-F:3, 4, 5, and 6:
(a) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder.
(b) In the event of a regulatory action level event under RSA 404-F:4, I(a), (b), or (c) the commissioner shall take the actions required under RSA 404-F:3.
(c) In the event of a regulatory action level event under RSA 404-F:4, I(d), (e), (f), (g), (h), or (i) or an authorized control level event, the commissioner shall take the actions required under RSA 404-F:4 with respect to the insurer.
(d) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under RSA 404-F:5 with respect to the insurer.
II. For RBC reports required to be filed by property and casualty insurers with respect to 1994, the following requirements shall apply in lieu of the provision of RSA 404-F:3, 4, 5, and 6:
(a) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder.
(b) In the event of a regulatory action level event under RSA 404-F:4, I(a), (b), or (c) the commissioner shall take the actions required under RSA 404-F:3.
(c) In the event of a regulatory action level event under RSA 404-F:4, I(d), (e), (f), (g), (h), or (i) or an authorized control level event, the commissioner shall take the actions required under RSA 404-F:4 with respect to the insurer.
(d) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under RSA 404-F:5 with respect to the insurer.
III. For RBC reports required to be filed by health organizations with respect to 1999, the following requirements shall apply in lieu of the provisions of RSA 404-F:3, 4, 5, and 6:
(a) In the event of a company action level event with respect to a health organization, the commissioner shall take no regulatory action hereunder.
(b) In the event of a regulatory action level event under RSA 404-F:4, I, (a), (b), or (c) the commissioner shall take the actions required under RSA 404-F:3.
(c) In the event of a regulatory action level event under RSA 404-F:4, I, (d), (e), (f), (g), (h), or (i) or an authorized control level event, the commissioner shall take the actions required under RSA 404-F:4 with respect to the health organization.
(d) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under RSA 404-F:5 with respect to the health organization.
Source. 1995, 113:1. 2000, 207:5, eff. July 29, 2000.