Kansas Statutes 40-2c12. Same; commissioner’s duties in regulatory action level event
Current as of: 2023 | Check for updates
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In the event of a regulatory action level event, the commissioner shall:
(a) Require the insurer to prepare and submit an RBC plan or, if applicable, a revised RBC plan;
Terms Used In Kansas Statutes 40-2c12
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commissioner: means the commissioner of insurance. See Kansas Statutes 40-2c01
- Corrective order: means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required to address an RBC level event. See Kansas Statutes 40-2c01
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- RBC: means risk-based capital. See Kansas Statutes 40-2c01
- RBC plan: means a comprehensive financial plan containing the elements specified in Kan. See Kansas Statutes 40-2c01
(b) perform such examination or analysis as the commissioner deems necessary of the assets, liabilities and operations of the insurer including a review of its RBC plan or revised RBC plan; and
(c) subsequent to the examination or analysis, issue a corrective order specifying such actions as the commissioner determines are required.