S.D. Admin. R. 20:06:36:17

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:06:36:17 - Authorized control level event

An authorized control level event is any of the following events:

(1) The filing of an RBC report by the insurer or health organization which indicates that the insurer's or health organization's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;

(2) The notice by the director to the insurer or health organization of an adjusted RBC report that indicates the event in subdivision (1) of this section, and the insurer or health organization does not challenge the adjusted RBC report under § 20:06:36:21;

(3) If, pursuant to § 20:06:36:21, the insurer or health organization challenges an adjusted RBC report that indicates the event in subdivision (1) of this section, notice by the director to the insurer or health organization that the director has, after a hearing, rejected the insurer's or health organization's challenge;

(4) The failure of the insurer or health organization to respond to a corrective order in a manner satisfactory to the director and the insurer or health organization has not challenged the corrective order under § 20:06:36:21; or

(5) If the insurer or health organization has challenged a corrective order under § 20:06:36:21 and the director has, after a hearing, rejected the challenge or modified the corrective order, the failure of the insurer or health organization to respond to the corrective order in a manner satisfactory to the director subsequent to rejection or modification by the director.

S.D. Admin. R. 20:06:36:17

23 SDR 228, effective 7/3/1997; 41 SDR 93, effective 12/3/2014.

General Authority: SDCL 58-4-48.

Law Implemented: SDCL 58-4-48.