§ 27-4.7-11. Foreign health organizations.
(a)(1) A foreign health organization shall, upon the written request of the commissioner,
submit to the commissioner an RBC report as of the end of the calendar year just ended
the later of:
(i) The date an RBC report would be required to be filed by a domestic health organization
under this chapter; or
(ii) Fifteen (15) days after the request is received by the foreign health organization.
(2) A foreign health organization shall, at the written request of the commissioner, promptly
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§ 27-4.7-11. Foreign health organizations.
(a)(1) A foreign health organization shall, upon the written request of the commissioner,
submit to the commissioner an RBC report as of the end of the calendar year just ended
the later of:
(i) The date an RBC report would be required to be filed by a domestic health organization
under this chapter; or
(ii) Fifteen (15) days after the request is received by the foreign health organization.
(2) A foreign health organization shall, at the written request of the commissioner, promptly
submit to the commissioner a copy of any RBC plan that is filed with the insurance
commissioner of any other state.
(b) In the event of a company action level event, regulatory action level event, or authorized
control level event with respect to a foreign health organization as determined under
the RBC statute applicable in the state of domicile of the health organization (or,
if no RBC statute is in force in that state, under the provisions of this chapter),
if the insurance commissioner of the state of domicile of the foreign health organization
fails to require the foreign health organization to file an RBC plan in the manner
specified under that state's RBC statute (or, if no RBC statute is in force in that
state, under §â€‚27-4.7-4), the commissioner may require the foreign health organization to file an RBC plan
with the commissioner. In that event, the failure of the foreign health organization
to file an RBC plan with the commissioner is grounds to order the health organization
to cease and desist from writing new insurance business in this state.
(c) In the event of a mandatory control level event with respect to a foreign health organization,
if no domiciliary receiver has been appointed with respect to the foreign health organization
under the rehabilitation and liquidation statute applicable in the state of domicile
of the foreign health organization, the commissioner may make application to the superior
court of the county of Providence permitted under chapter 14.3 of this title with
respect to the liquidation of property of foreign health organizations found in this
state, and the occurrence of the mandatory control level event shall be considered
adequate grounds for the application.