Illinois Compiled Statutes 215 ILCS 5/35A-60 – Phase-in of Article
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(a) For RBC Reports filed with respect to the December 31, 1993 annual statement, instead of the provisions of Sections 35A-15, 35A-20, 35A-25, and 35A-30, the following provisions apply:
(1) In the event of a company action level event, the
(1) In the event of a company action level event, the
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Director shall take no action under this Article.
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(2) In the event of a regulatory action level event
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under paragraph (1), (2), or (3) of subsection (a) of Section 35A-20, the Director shall take the actions required under Section 35A-15.
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(3) In the event of a regulatory action level event
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under paragraph (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 35A-20 or an authorized control level event, the Director shall take the actions required under Section 35A-20.
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(4) In the event of a mandatory control level event,
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the Director shall take the actions required under Section 35A-25.
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(b) For RBC Reports required to be filed by property and casualty insurers with respect to the December 31, 1995 annual statement, instead of the provisions of Sections 35A-15, 35A-20, 35A-25, and 35A-30, the following provisions apply:
(1) In the event of a company action level event with
Terms Used In Illinois Compiled Statutes 215 ILCS 5/35A-60
- Domestic insurer: means any insurance company domiciled in this State under Article II, Article III, Article III 1/2, or Article IV or a health organization as defined by this Article, except this shall include only those health maintenance organizations that are "domestic companies" in accordance with § 5-3 of the Health Maintenance Organization Act and only those limited health service organizations that are "domestic companies" in accordance with § 4003 of the Limited Health Service Organization Act. See Illinois Compiled Statutes 215 ILCS 5/35A-5
- Health organization: means an entity operating under a certificate of authority issued pursuant to the Health Maintenance Organization Act, the Dental Service Plan Act, the Limited Health Service Organization Act, or the Voluntary Health Services Plans Act, unless the entity is otherwise defined as a "life, health, or life and health insurer" pursuant to this Act. See Illinois Compiled Statutes 215 ILCS 5/35A-5
- RBC: means risk-based capital. See Illinois Compiled Statutes 215 ILCS 5/35A-5
(1) In the event of a company action level event with
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respect to a domestic insurer, the Director shall take no regulatory action under this Article.
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(2) In the event of a regulatory action level event
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under paragraph (1), (2), or (3) of subsection (a) of Section 35A-20, the Director shall take the actions required under Section 35A-15.
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(3) In the event of a regulatory action level event
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under paragraph (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 35A-20 or an authorized control level event, the Director shall take the actions required under Section 35A-20.
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(4) In the event of a mandatory control level event,
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the Director shall take the actions required under Section 35A-25.
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(c) For RBC Reports required to be filed by health organizations with respect to the December 31, 1999 annual statement and the December 31, 2000 annual statement, instead of the provisions of Sections 35A-15, 35A-20, 35A-25, and 35A-30, the following provisions apply:
(1) In the event of a company action level event with
(1) In the event of a company action level event with
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respect to a domestic insurer, the Director shall take no regulatory action under this Article.
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(2) In the event of a regulatory action level event
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under paragraph (1), (2), or (3) of subsection (a) of Section 35A-20, the Director shall take the actions required under Section 35A-15.
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(3) In the event of a regulatory action level event
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under paragraph (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 35A-20 or an authorized control level event, the Director shall take the actions required under Section 35A-20.
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(4) In the event of a mandatory control level event,
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the Director shall take the actions required under Section 35A-25.
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This subsection does not apply to a health organization that provides or arranges for a health care plan under which enrollees may access health care services from contracted providers without a referral from their primary care physician.
Nothing in this subsection shall preclude or limit other powers or duties of the Director under any other laws.
(d) For RBC Reports required to be filed by fraternal benefit societies with respect to the December 31, 2013 annual statement and the December 31, 2014 annual statement, instead of the provisions of Sections 35A-15, 35A-20, 35A-25, and 35A-30, the following provisions apply:
(1) In the event of a company action level event with
Nothing in this subsection shall preclude or limit other powers or duties of the Director under any other laws.
(d) For RBC Reports required to be filed by fraternal benefit societies with respect to the December 31, 2013 annual statement and the December 31, 2014 annual statement, instead of the provisions of Sections 35A-15, 35A-20, 35A-25, and 35A-30, the following provisions apply:
(1) In the event of a company action level event with
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respect to a domestic insurer, the Director shall take no regulatory action under this Article.
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(2) In the event of a regulatory action level event
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under paragraph (1), (2), or (3) of subsection (a) of Section 35A-20, the Director shall take the actions required under Section 35A-15.
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(3) In the event of a regulatory action level event
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under paragraph (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 35A-20 or an authorized control level event, the Director shall take the actions required under Section 35A-20.
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(4) In the event of a mandatory control level event,
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the Director shall take the actions required under Section 35A-25.
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Nothing in this subsection shall preclude or limit other powers or duties of the Director under any other laws.