This text of Minnesota § 64B.41 (RISK-BASED CAPITAL REPORTS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Subdivision 1.General requirements.
Every society shall, on or before each March 1, prepare and submit to the commissioner a report of its risk-based capital levels as of the end of the calendar year just ended, in a form and containing the information required by the risk-based capital instructions. In addition, every society shall file its risk-based capital report with the NAIC according to the risk-based capital instructions.
Subd. 2.Specific requirements.
A society's risk-based capital must be determined according to the formula set forth in the risk-based capital instructions. The formula must take into account, and may adjust for the covariance between:
(1)the risk with respect to the society's assets;
(2)the risk of adverse insurance experience with respect to the society's lia
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Subdivision 1.General requirements.
Every society shall, on or before each March 1, prepare and submit to the commissioner a report of its risk-based capital levels as of the end of the calendar year just ended, in a form and containing the information required by the risk-based capital instructions. In addition, every society shall file its risk-based capital report with the NAIC according to the risk-based capital instructions.
Subd. 2.Specific requirements.
A society's risk-based capital must be determined according to the formula set forth in the risk-based capital instructions. The formula must take into account, and may adjust for the covariance between:
(1) the risk with respect to the society's assets;
(2) the risk of adverse insurance experience with respect to the society's liabilities and obligations;
(3) the interest rate risk with respect to the society's business; and
(4) all other business risks and other relevant risks set forth in the risk-based capital instructions;
determined in each case by applying the factors in the manner set forth in the risk-based capital instructions.
Subd. 3.Adjusted risk-based capital report.
If a society files a risk-based capital report that in the judgment of the commissioner is inaccurate, then the commissioner shall adjust the risk-based capital report to correct the inaccuracy and shall notify the society of the adjustment. The notice must contain a statement of the reason for the adjustment. A risk-based capital report as so adjusted is referred to as an "adjusted risk-based capital report."