Kansas Statutes 40-2c13. Corrective actions; submission of RBC plans, when
In determining corrective actions, the commissioner may take into account such factors as are deemed relevant with respect to the insurer based upon the commissioner’s examination or analysis of the assets, liabilities and operations of the insurer, including, but not limited to, the results of any sensitivity tests undertaken pursuant to the RBC instructions. The RBC plan or revised RBC plan shall be submitted:
(a) Within 45 days after the occurrence of the regulatory action level event;
Terms Used In Kansas Statutes 40-2c13
- 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
- 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
- RBC report: means the report required by Kan. See Kansas Statutes 40-2c01
(b) within 45 days after the notification to the insurer that the commissioner has rejected the insurer’s challenge to an adjusted RBC report pursuant to Kan. Stat. Ann. § 40-2c19, and amendments thereto; or
(c) within 45 days after notification to the insurer that the commissioner has rejected the insurer’s challenge to a revised RBC plan pursuant to Kan. Stat. Ann. § 40-2c19, and amendments thereto.