Montana Code 33-2-1908. Notification and hearing
33-2-1908. Notification and hearing. (1) An insurer has the right to a hearing before the department upon notification by the commissioner:
Terms Used In Montana Code 33-2-1908
- Corrective order: means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required. See Montana Code 33-2-1902
- Insurer: includes life or other disability insurers, property and casualty insurers, and health organizations. See Montana Code 33-2-1902
- RBC plan: means a comprehensive financial plan containing the elements specified in 33-2-1904(2). See Montana Code 33-2-1902
- RBC report: means the report required in 33-2-1903. See Montana Code 33-2-1902
(a)of an adjusted RBC report or unsatisfactory RBC plan or revised RBC plan that constitutes a regulatory action level event with respect to the insurer;
(b)that the insurer has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer in accordance with its RBC plan or revised RBC plan; or
(c)of a corrective order with respect to the insurer.
(2)The insurer shall notify the commissioner of its request for a hearing within 5 days after the notification by the commissioner under subsection (1). Upon receipt of the insurer’s request for a hearing, the commissioner shall set a date for the hearing, which may not be less than 10 or more than 30 days after the date of the insurer’s request.