§ 1322. Risk-based capital for life insurance companies, accident and\nhealth insurance companies, corporations organized pursuant to article\nforty-three of this chapter, and certain health maintenance\norganizations. (a) Definitions. In this section:\n (1) "Adjusted RBC report" means a RBC report which has been adjusted\nby the superintendent in accordance with paragraph three of subsection\n(c) of this section.\n (2) "Corrective order" means an order issued by the superintendent\nspecifying corrective actions which the superintendent has determined\nare required.\n (3) "Domestic insurer" means any authorized life insurance company or\naccident and health insurance company incorporated or organized under\nany law of this state; corporation organized pursuant to article\nforty-three of this chapter; or health maintenance organization\ndomiciled in this state and certified or operating in at least one other\nstate.\n (4) "Foreign insurer" means any authorized life insurance company or\naccident and health insurance company incorporated or organized under\nthe laws of any state, other than this state.\n (5) "Negative trend" means a negative trend over a period of time, as\ndetermined in accordance with the "trend test calculation" included in\nthe RBC instructions defined in paragraph seven of this subsection.\n (6) "RBC" means risk-based capital.\n (7) "RBC instructions" means the RBC report including risk-based\ncapital instructions, which in addition to any other matter which may be\nrequired to be stated therein, either by law or by the superintendent\npursuant to law, shall conform substantially to the form of the report\nand instructions adopted from time to time for such purpose by, or by\nthe authority of, the National Association of Insurance Commissioners,\ntogether with such additions, omissions or modifications, similarly\nadopted from time to time, as may be approved by the superintendent.\n (8) "RBC level" means an insurer's company action level RBC,\nregulatory action level RBC, authorized control level RBC, or mandatory\ncontrol level RBC where:\n (A) "Company action level RBC" means the product of 2.0 and the\ninsurer's authorized control level RBC;\n (B) "Regulatory action level RBC" means the product of 1.5 and the\ninsurer's authorized control level RBC;\n (C) "Authorized control level RBC" means the number determined under\nthe risk-based capital formula in accordance with the RBC instructions;\n (D) "Mandatory control level RBC" means the product of .70 and the\ninsurer's authorized control level RBC.\n (9) "RBC plan" means a comprehensive financial plan containing the\nelements specified in paragraph two of subsection (d) of this section.\nIf the superintendent rejects the RBC plan, and it is revised by the\ninsurer, with or without the superintendent's recommendation, the plan\nshall be called the "Revised RBC plan."\n (10) "RBC report" means the report required in subsection (c) of this\nsection.\n (11) "Total adjusted capital" means the sum of:\n (A) An insurer's statutory capital and surplus; and\n (B) Such other items, if any, as the RBC instructions may provide.\n (b) Applicability. This section shall apply to every authorized life\ninsurance company and accident and health insurance company incorporated\nor organized under any law of this state; corporation organized pursuant\nto article forty-three of this chapter; or health maintenance\norganization domiciled in this state and certified or operating in at\nleast one other state.\n (c) RBC reports. (1) Every domestic insurer other than a health\nmaintenance organization domiciled in this state and certified or\noperating in at least one other state shall, on or prior to each March\nfifteenth, and every such health maintenance organization, on or prior\nto each April fifteenth (the "filing date"), prepare and submit to the\nsuperintendent a report of its RBC levels as of the end of the calendar\nyear just ended, in a form and con
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