40-2d24. Commissioner may require foreign health insurer to file RBC plan, when. - Kansas Statutes

40-2d24

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

      40-2d24.   Commissioner may require foreign healthinsurer to file RBC plan, when.In the event of a company action level event, regulatoryaction level event or authorized control level event with respect to anyforeign health organization as determined under the RBC statute applicable inthe state of domicile of the health organization or, if no RBC provision is inforce in that state, under the provisions of this act, if the insurancecommissioner of the state of domicile of the foreign health organization failsto require the foreign health organization to file an RBC plan in the mannerspecified under the RBC statute or, if there are no RBC provisions in force inthe state, under K.S.A. 40-2d05, 40-2d06, 40-2d07, 40-2d08, 40-2d09 and40-2d10, and amendments thereto, thecommissioner may require the foreign health organization to file an RBC planwith the commissioner. In such event, the failure of the foreign healthorganization to file an RBC plan with the commissioner shall be grounds toorder the health organization to cease and desist from writing new insurancebusiness in this state.

      History:   L. 2000, ch. 147, § 25; July 1.