This text of North Dakota § 26.1-03.2-01 (Definitions) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
In this chapter, unless the context or subject matter otherwise requires:
1."Adjusted risk-based capital report" means a risk-based capital report which has been
adjusted by the commissioner in accordance with section 26.1-03.2-02.
2."Corrective order" means an order issued by the commissioner specifying corrective
actions which the commissioner has determined are required.
3."Domestic health organization" means a health organization domiciled in this state.
4."Foreign health organization" means a health organization that is licensed to do
business in this state but is not domiciled in this state.
5."Health organization" means a health maintenance organization, prepaid limited health
service organization, nonprofit health service corporation, or other managed care
organization license
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In this chapter, unless the context or subject matter otherwise requires:
1. "Adjusted risk-based capital report" means a risk-based capital report which has been
adjusted by the commissioner in accordance with section 26.1-03.2-02.
2. "Corrective order" means an order issued by the commissioner specifying corrective
actions which the commissioner has determined are required.
3. "Domestic health organization" means a health organization domiciled in this state.
4. "Foreign health organization" means a health organization that is licensed to do
business in this state but is not domiciled in this state.
5. "Health organization" means a health maintenance organization, prepaid limited health
service organization, nonprofit health service corporation, or other managed care
organization licensed by the commissioner to do business in this state. "Health
organization" does not include an organization that is licensed as either a life and
health insurer or a property and casualty insurer that is otherwise subject to either the
life or property and casualty risk-based capital requirements.
6. "Risk-based capital instructions" means the risk-based capital report including
risk-based capital instructions adopted by the national association of insurance
commissioners, as these risk-based capital instructions may be amended by the
national association of insurance commissioners from time to time in accordance with
the procedures adopted by the national association of insurance commissioners.
7. "Risk-based capital level" means a health organization's company action level
risk-based capital, regulatory action level risk-based capital, authorized control level
risk-based capital, or mandatory control level risk-based capital and:
a. "Authorized control level risk-based capital" means the number determined under
the risk-based capital formula in accordance with the risk-based capital
instructions.
b. "Company action level risk-based capital" means, with respect to any health
organization, the product of 2.0 and its authorized control level risk-based capital.
c. "Mandatory control level risk-based capital" means the product of .70 and the
authorized control level risk-based capital.
d. "Regulatory action level risk-based capital" means the product of 1.5 and its
authorized control level risk-based capital.
8. "Risk-based capital plan" means a comprehensive financial plan containing the
elements specified in subsection 2 of section 26.1-03.2-03. If the commissioner rejects
the risk-based capital plan, and it is revised by the health organization, with or without
the commissioner's recommendation, the plan must be called the "revised risk-based
capital plan".
9. "Risk-based capital report" means the report required in section 26.1-03.2-02.
10. "Total adjusted capital" means the sum of:
a. A health organization's statutory capital and surplus, net worth, as determined in
accordance with the statutory accounting applicable to the annual financial
statements required to be filed under section 26.1-03-07 or, in the case of a
health maintenance organization, section 26.1-18.1-08; and
b. Such other items, if any, as the risk-based capital instructions may provide.