§ 27-1-36-32 — RBC plan; notice by commissioner; revised RBC plan

Indiana § 27-1-36-32

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 36: Risk Based Capital Requirements

Text

(a) Not more than sixty (60) days after an
insurer submits an RBC plan under section 31 of this chapter, the
commissioner shall notify the insurer of whether the RBC plan:
(1) must be implemented; or
(2) is unsatisfactory.
(b) If the commissioner determines that an RBC plan is
unsatisfactory, the notification to the insurer:
(1) must state the reasons for the determination; and
(2) may include revisions proposed by the commissioner that will
render the RBC plan satisfactory.
(c) Upon receiving a notification from the commissioner under
subsection (b), the insurer shall prepare a revised RBC plan. The
revised RBC plan may incorporate by reference any revisions proposed
by the commissioner. The insurer shall submit the revised RBC plan to
the commissioner:
(1) not more than forty-five (45) days after the insurer receives
the notification under subsection (a)(2); or
(2) not more than forty-five (45) days after the insurer receives
the notification from the commissioner that the commissioner has,
after a hearing under section 44 of this chapter, rejected the
insurer's challenge.

Legislative History

As added by P.L.186-1996, SEC.1.