(a) Every domestic health organization shall, on or before March 1 of every year,
submit a report of its RBC levels as of the end of the preceding calendar year to
the department and the NAIC as prescribed by the RBC instructions.
(b) Every domestic health organization shall, upon the written request of the chief
insurance regulatory official of any jurisdiction in which the health organization
is authorized to do business, file its RBC report with that jurisdiction by the date
required by the requesting chief insurance regulatory official or March 1 of the year
following the calendar year for which the report is requested, whichever is later.
(c) If the department determines that an RBC report is inaccurate, the department
shall correct the inaccuracy and notify the health organization of the amount of the
recalculation and the reason for the recalculation. If, within thirty days of the notification under this subsection, the health organization
fails to submit an adjusted RBC report to the department and the NAIC that corrects
the inaccuracy in accordance with the department's notification, the commissioner
may order an investigatory hearing. The department shall provide notice to the health organization at least twenty days
prior to the hearing. Following the hearing, the commissioner shall issue a final order accepting the
original RBC report or an adjusted RBC report.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.