Kansas § 40-2c17 Mandatory control event; defined

Kansas Statutes

§ 40-2c17 — Mandatory control event; defined

Kansas·Ch. 40 INSURANCE·Art. 2c RISK-BASED CAPITAL REQUIREMENTS

"Mandatory control event" means any of the following events:

(a)The filing of an RBC report which indicates that the insurer's total adjusted capital is less than its mandatory control level RBC;

(b)notification by the commissioner to the insurer of an adjusted RBC report that indicates the event described in subsection (a) if:

(1)The insurer does not challenge the adjusted RBC report pursuant to K.S.A. 40-2c19; or

(2)the commissioner has rejected such challenge.

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"Mandatory control event" means any of the following events:
(a) The filing of an RBC report which indicates that the insurer's total adjusted capital is less than its mandatory control level RBC;
(b) notification by the commissioner to the insurer of an adjusted RBC report that indicates the event described in subsection (a) if:
(1) The insurer does not challenge the adjusted RBC report pursuant to K.S.A. 40-2c19; or
(2) the commissioner has rejected such challenge.

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