Statute 40-2c08: Risk-based capital plan; notification by
commissioner.
Within 60 days after the submission by an insurer of an RBC
plan to the commissioner, the commissioner shall notify the insurer whether the
RBC plan shall be implemented or is, in the judgment of the commissioner,
unsatisfactory. If the commissioner determines the RBC plan is unsatisfactory,
the notification to the insurer shall state the reasons for the determination,
and may state proposed revisions which, in the judgment of the commissioner,
will render the RBC plan satisfactory. Upon notification from the
commissioner, the insurer shall prepare a revised RBC plan and shall submit the
revised RBC plan to the commissioner:
(a) Within 45 days after the notification from the commissioner; or
(b) within 45 days after a notification to the insurer that the commissioner
has, pursuant to K.S.A. 40-2c19, rejected the insurer's challenge to
the
commissioner's original findings as authorized by this section.
History: L. 1994, ch. 138, § 8; July 1.