§ 44-6025 — Phase-in provision

For risk-based capital reports required to be filed by health organizations with respect to 1999 only, the following requirements shall apply in lieu of the provisions of sections 44-6016 to 44-6019 :
(1) In the event of a company action level event with respect to a domestic health organization, the director shall take no regulatory action under the Insurers and Health Organizations Risk-Based Capital Act;
(2) In the event of a regulatory action level event under subdivisions (1)(a) through (c) of section 44-6017 , the director shall take the actions required under section 44-6016 ;
(3) In the event of a regulatory action level event under subdivisions (1)(d) through (i) of section 44-6017 or an authorized control level event, the director shall take the actions required under section 44-6017 with respect to the health organization; and
(4) In the event of a mandatory control level event with respect to a health organization, the director shall take the actions required under section 44-6018 with respect to the health organization.

Legislative History

Source: Laws 1993, LB 583, § 37; Laws 1994, LB 978, § 47; Laws 1999, LB 258, § 31.