40-2c13. Corrective actions; submission of RBC plans, when. - Kansas Statutes

40-2c13

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

      40-2c13.   Corrective actions; submission of RBCplans, when.In determining corrective actions, the commissioner may takeinto account such factors as are deemed relevant with respect to the insurerbased upon the commissioner's examination or analysis of the assets,liabilities and operations of the insurer, including, but not limited to, theresults of any sensitivity tests undertaken pursuant to the RBC instructions. The RBC plan or revised RBC plan shall be submitted:

      (a)   Within 45 days after the occurrence of the regulatory action levelevent;

      (b)   within 45 days after the notification to the insurer that thecommissioner has rejected the insurer's challenge to an adjusted RBC reportpursuant to K.S.A. 40-2c19, and amendments thereto; or

      (c)   within 45 days after notification to the insurer that the commissionerhas rejected the insurer's challenge to a revised RBC plan pursuant toK.S.A. 40-2c19, and amendments thereto.

      History:   L. 1994, ch. 138, § 13;L. 1996, ch. 134, § 5; July 1.