40-2d15. Authorized control level event; defined. - Kansas Statutes

40-2d15

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

      40-2d15.   Authorized control level event;defined."Authorized control level event" means any of the followingevents:

      (a)   The filing of an RBC report by the health organization which indicatesthat the health organization's total adjusted capital is greater than or equaltoits mandatory control level RBC but less than its authorized control level RBC;

      (b)   the notification by the commissioner to the health organization of anadjusted RBC report that 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 after a hearing;

      (c)   the failure of the health organization to respond, in a mannersatisfactory to the commissioner, to a corrective order if the healthorganization has not challenged the corrective order under K.S.A. 40-2d19, andamendments thereto; or

      (d)   if the commissioner has rejected the challenge to the corrective order ormodified the corrective order pursuant to K.S.A. 40-2d19, and amendmentsthereto,the failure of the health organization to respond, in a manner satisfactory tothe commissioner, to the corrective order subsequent to rejection ormodification by the commissioner.

      History:   L. 2000, ch. 147, § 16; July 1.