40-2d08. Risk-based capital plan; notification by commissioner. - Kansas Statutes

40-2d08

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

      40-2d08.   Risk-based capital plan; notification bycommissioner.Within 60 days after the submission by a health organizationof an RBC plan to the commissioner, the commissioner shall notify the healthorganization whether the RBC plan shall be implemented or is, in the judgmentof the commissioner, unsatisfactory. If the commissioner determines the RBCplan is unsatisfactory, the notification to the health organization shall statethe reasons for the determination, and may state proposed revisions which, inthe judgments of the commissioner, will render the RBC plan satisfactory. Uponnotification from the commissioner, the health organization shall prepare arevised RBC plan and shall submit the revised RBC plan to the commissioner:

      (a)   Within 45 days after the notification from the commissioner; or

      (b)   within 45 days after a notification to the health organization that thecommissionerhas, pursuant to K.S.A. 40-2d19, and amendments thereto, rejected the healthorganization's challenge to thecommissioner's original findings as authorized by this section.

      History:   L. 2000, ch. 147, § 9; July 1.