33-2-1901. Short title

33-2-1901. Short title. This part constitutes and may be referred to as “The Risk-Based Capital for Insurers Act”. History: En. Sec. 82, Ch. 379, L. 1995.

33-2-1902. Definitions

33-2-1902. Definitions. As used in this part, the following definitions apply: (1) ”Adjusted RBC report” means an RBC report that has been adjusted by the commissioner in accordance with 33-2-1903(6). (2) ”Corrective order” means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required. (3) ”Domestic insurer” means any insurance company or health […]

33-2-1903. RBC reports

33-2-1903. RBC reports. (1) Each domestic insurer shall, on or before each March 1 filing date, prepare and submit to the commissioner a report of its RBC levels as of the end of the previous calendar year in a form and containing information as required by the RBC instructions. In addition, each domestic insurer shall file […]

33-2-1904. Company action level event

33-2-1904. Company action level event. (1) “Company action level event” means any of the following events: (a) the filing of an RBC report by an insurer indicating that: (i) the insurer’s total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; (ii) for a life or disability […]

33-2-1905. Regulatory action level event

33-2-1905. Regulatory action level event. (1) “Regulatory action level event” means, with respect to any insurer, any of the following events: (a) the filing of an RBC report by the insurer that indicates that the insurer’s total adjusted capital is greater than or equal to its authorized control level RBC but less than its regulatory action level […]

33-2-1906. Authorized control level event

33-2-1906. Authorized control level event. (1) “Authorized control level event” means any of the following events: (a) the filing of an RBC report by the insurer that 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 […]

33-2-1907. Mandatory control level event

33-2-1907. Mandatory control level event. (1) “Mandatory control level event” means any of the following events: (a) the filing of an RBC report that indicates that the insurer’s total adjusted capital is less than its mandatory control level RBC; (b) notification by the commissioner to the insurer of an adjusted RBC report that indicates the event in subsection […]

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: (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 […]

33-2-1909. Confidentiality — prohibition on announcements — prohibition on use in ratemaking

33-2-1909. Confidentiality — prohibition on announcements — prohibition on use in ratemaking. (1) With respect to a domestic insurer or a foreign insurer, all RBC reports, to the extent the information in the reports is not required to be set forth in a publicly available annual statement schedule, and all RBC plans, including the results or […]

33-2-1910. Supplemental provisions — rules — exemption

33-2-1910. Supplemental provisions — rules — exemption. (1) The provisions of this part are supplemental to any other provisions of the laws of this state and do not preclude or limit any other powers or duties of the commissioner under the law, including but not limited to Title 33, chapter 2, part 13. (2) The commissioner may […]

33-2-1911. Foreign insurers

33-2-1911. Foreign insurers. (1) A foreign insurer shall, upon the written request of the commissioner, submit to the commissioner an RBC report for the previous calendar year on the later of: (a) the date that an RBC report would be required to be filed by a domestic insurer under 33-2-1903; or (b) 15 days after the request is […]

33-2-1912. Repealed

33-2-1912. Repealed. Sec. 35, Ch. 63, L. 2015. History: En. Sec. 93, Ch. 379, L. 1995.

33-2-1913. Notices

33-2-1913. Notices. All notices by the commissioner to an insurer that may result in regulatory action are effective on dispatch if transmitted by certified mail or, in the case of any other transmission, are effective on the insurer’s receipt of the notice. History: En. Sec. 94, Ch. 379, L. 1995.