Section 221.7-A - Regulatory action level event(a) In the event of a regulatory action level event, the commissioner: (1) may require the insurer to prepare and submit an RBC plan or, if applicable, a revised RBC plan;(2) shall perform an examination under Article IX or analysis as the commissioner deems necessary of the assets, liabilities and operations of the insurer, including, if applicable, a review of its RBC plan or revised RBC plan; and(3) subsequent to an examination or analysis performed under paragraph (2) shall issue an order specifying corrective actions as the commissioner shall determine are required.(b) In determining corrective actions, the commissioner may take into account factors as the commissioner deems relevant with respect to the insurer based upon the commissioner's examination or analysis of the assets, liabilities and operations of the insurer, including, but not limited to, the results of any sensitivity tests undertaken pursuant to the RBC instructions.(c) The RBC plan or revised RBC plan required under this section shall be submitted within forty-five days after the occurrence of the regulatory action level event.(d) The commissioner may retain actuaries, investment experts, attorneys, appraisers, certified public accountants and other professionals and specialists as may be necessary in the judgment of the commissioner to review the insurer's RBC plan or revised RBC plan, examine or analyze the assets, liabilities and operations of the insurer and formulate the corrective order with respect to the insurer. The fees, costs and expenses relating to professionals and specialists retained under this section shall be charged to and paid by the affected insurer or other party as directed by the commissioner.1921, May 17, P.L. 789, No. 285, § 507-A, added 1997, June 25, P.L. 349, No. 40, § 1, imd. effective.