§ 40-2d15 — Authorized control level event; defined

Kansas § 40-2d15

• Jurisdiction: Kansas
• Ch. 40: INSURANCE
• Art. 2d: HEALTH ORGANIZATION RISK-BASED CAPITAL REQUIREMENTS

Text

"Authorized control level event" means any of the following events:
(a) The filing of an RBC report by the health organization which indicates that the health organization's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;
(b) the notification by the commissioner to the health organization of an adjusted RBC report that indicates the event described in subsection (a) if:
(1) The health organization does not challenge the adjusted RBC report pursuant 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 manner satisfactory to the commissioner, to a corrective order if the health organization has not challenged the corrective order under K.S.A. 40-2d19, and amendments thereto; or
(d) if the commissioner has rejected the challenge to the corrective order or modified the corrective order pursuant to K.S.A. 40-2d19, and amendments thereto, the failure of the health organization to respond, in a manner satisfactory to the commissioner, to the corrective order subsequent to rejection or modification by the commissioner.

Legislative History

L. 2000, ch. 147, § 16; July 1.