Sec. 32. (a) Not more than sixty (60) days after an insurer submits an RBC plan under section 31 of this chapter, the commissioner shall notify the insurer of whether the RBC plan: (1) must be implemented; or (2) is unsatisfactory. (b) If the commissioner determines that an RBC plan is unsatisfactory, the notification to the insurer: (1) must state the reasons for the determination; and (2) may include revisions proposed by the commissioner that will render the RBC plan satisfactory. (c) Upon receiving a notification from the commissioner under subsection (b), the insurer shall prepare a revised RBC plan. The revised RBC plan may incorporate by reference any revisions proposed by the commissioner. The insurer shall submit the revised RBC plan to the commissioner: (1) not more than forty-five (45) days after the insurer receives the notification under subsection (a)(2); or (2) not more than forty-five (45) days after the insurer receives the notification from the commissioner that the commissioner has, after a hearing under section 44 of this chapter, rejected the insurer's challenge.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.