40-2c29. RBC; rules and regulations; conditions. On and after July 1, 2009, the commissioner may adopt by rules and regulations, any later version of the RBC instructions promulgated by the NAIC, which are consistent with the provisions of this act, including the provisions of K.S.A. 40-2c03, and amendments thereto, provided that before any later version may be adopted by the commissioner in rules and regulations, the commissioner shall prepare an impact statement indicating the projected impact upon domestic insurers and notify any affected insurer of the projected impact. If the projected impact is likely to cause the amount of a domestic insurer's total adjusted capital or its RBC report for the previous year to vary by more than 2.5% or to cause a domestic insurer's control level to change upon application of the later version of the risk-based capital instructions, then such later version shall not be adopted in rules and regulations until such later version is approved by legislative action.
History: L. 2009, ch. 83, ยง 20; Apr. 23.
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.