S.D. Admin. R. 20:06:36:14

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:36:14 - Regulatory action level event - Required actions by director

If a regulatory action level event occurs, the director shall do the following:

(1) Require the insurer or health organization to prepare and submit an RBC plan or, if applicable, a revised RBC plan;

(2) Perform any examination or analysis the director considers necessary of the assets, liabilities, and operations of the insurer or health organization, including a review of its RBC plan or revised RBC plan; and

(3) Subsequent to the examination or analysis, issue a corrective order specifying the corrective actions to be taken by the insurer or health organization. In determining corrective actions, the director may take into account any factors considered relevant to the insurer or health organization based on the director's examination or analysis of the assets, liabilities, and operations of the insurer or health organization, including the results of any sensitivity tests undertaken pursuant to the RBC instructions.

S.D. Admin. R. 20:06:36:14

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.