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Pennsylvania Statutes Title 40 P.S. Insurance § 221.15-B. Phase-in provisions

Current as of January 01, 2022 | Updated by FindLaw Staff

(a) This article shall apply to RBC reports required for the year ending December 31, 1999, and each year thereafter.

(b) Notwithstanding the provisions of sections 505-B, 506-B, 507-B and 508-B,  1 the following provisions shall apply to domestic health organizations with respect to RBC reports filed with the department for the year ending December 31, 1999:

(1) In the event of a company action level event, the commissioner shall take no regulatory action under this article.

(2) In the event of a regulatory action level event as defined in paragraphs (1) and (2) of the definition of “regulatory action level event” in section 501-B,  2 the department and the health organization shall take the actions required under section 505-B.

(3) In the event of a regulatory action level event as defined in paragraph (3), (4), (5) or (6) of the definition of “regulatory action level event” in section 501-B, the department shall take the actions required under section 506-B.

(4) In the event of a mandatory control level event, the department shall take the actions required under section 507-B.

1 40 P.S. §§ 221.5, 221.6-B, 221.7-B, 221.8-B.
2 40 P.S. § 221.1-B.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 221.15-B. Phase-in provisions - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-221-15-b/

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