40-2c19. Hearing under Kansas administrative procedure act. (a) Upon notification to an insurer by the commissioner of an adjusted RBC report; or
(b) upon notification to an insurer by the commissioner that:
(1) The insurer's RBC plan or revised RBC plan is unsatisfactory; and
(2) such notification constitutes a regulatory action level event with respect to such insurer; or
(c) upon notification to any insurer by the commissioner that the insurer has failed to adhere to its RBC plan or revised RBC plan and that such 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
(d) upon notification to an insurer by the commissioner of a corrective order with respect to the insurer,
the insurer shall have the right to a hearing under the Kansas administrative procedure act, at which the insurer may challenge any determination or action by the commissioner. The insurer shall notify the commissioner of its request for a hearing within five days after the notification by the commissioner under subsections (a), (b), (c) or (d). Upon receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing, which date shall be no less than 10 nor more than 30 days after receipt of the insurer's request. Such hearing shall be governed by K.S.A. 77-513 through 77-532, and amendments thereto.
History: L. 1994, ch. 138, ยง 19; 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.