40-2c15. Authorized control level event; defined. "Authorized control level event" means any of the following events:
(a) The filing of an RBC report by the insurer which indicates that the insurer's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;
(b) the notification by the commissioner to the insurer of an adjusted RBC report that indicates the event described in subsection (a) if:
(1) The insurer does not challenge the adjusted RBC report pursuant to K.S.A. 40-2c19, and amendments thereto; or
(2) the commissioner has rejected such challenge;
(c) the failure of the insurer to respond, in a manner satisfactory to the commissioner, to a corrective order if the insurer has not challenged the corrective order under K.S.A. 40-2c19, and amendments thereto; or
(d) if the commissioner has rejected the challenge to the corrective order or modified the corrective order pursuant to K.S.A. 40-2c19, and amendments thereto, the failure of the insurer to respond, in a manner satisfactory to the commissioner, to the corrective order subsequent to rejection or modification by the commissioner.
History: L. 1994, ch. 138, § 15; L. 1996, ch. 134, § 6; July 1.
Structure Kansas Statutes
Article 2c - Risk-based Capital Requirements
40-2c01 Risk-based capital requirements; definitions.
40-2c02 Risk-based capital report.
40-2c03 Determination of risk-based capital.
40-2c04 Risk-based capital report; adjustment.
40-2c05 Company action level event; defined.
40-2c06 Submission of RBC plan.
40-2c07 Risk-based capital plan; submission.
40-2c08 Same; notification by commissioner.
40-2c09 Same; notification a regulatory action level event.
40-2c10 Domestic insurer to file RBC plan in any state authorized to do business.
40-2c11 Regulatory action level event; defined.
40-2c12 Same; commissioner's duties in regulatory action level event.
40-2c13 Corrective actions; submission of RBC plans, when.
40-2c14 Review of RBC plans; expenses.
40-2c15 Authorized control level event; defined.
40-2c16 Same; commissioner's duties in authorized control level event.
40-2c17 Mandatory control event; defined.
40-2c18 Same; commissioner's actions.
40-2c19 Hearing under Kansas administrative procedure act.
40-2c21 Comparison of insurer's total adjusted capital to RBC levels, prohibited generally.
40-2c22 Provisions of act supplemental to other provisions of law.
40-2c23 Foreign insurer RBC report, when.
40-2c24 Commissioner may require foreign insurer to file RBC plan, when.
40-2c25 Mandatory control level event; foreign insurer; liquidation of property.
40-2c26 Notices by commissioner; effective, when.