S.D. Admin. R. 20:06:36:19

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

Section 20:06:36:19 - Mandatory control level event

A mandatory control level event is any of the following:

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

(2) 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; or

(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.

S.D. Admin. R. 20:06:36:19

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.