PARRIS N. GLENDENING, Governor                                 Ch. 339

(3)      "AUTHORIZED CONTROL LEVEL RBC" MEANS THE NUMBER
DETERMINED UNDER THE RISK BASED CAPITAL FORMULA IN ACCORDANCE WITH
THE RBC INSTRUCTIONS; OR

(4)      "MANDATORY CONTROL LEVEL RBC" MEANS THE PRODUCT OF .70
AND THE AUTHORIZED CONTROL LEVEL RBC.

(M) "RBC PLAN" MEANS A COMPREHENSIVE FINANCIAL PLAN CONTAINING
THE ELEMENTS SPECIFIED IN § 742(B) OF THIS SUBTITLE.

(N) "RBC REPORT" MEANS A REPORT PREPARED BY EACH DOMESTIC
INSURER AND SUBMITTED TO THE COMMISSIONER DETAILING THE INSURER'S RBC
LEVELS AS OF THE END OF THE IMMEDIATELY PRECEDING CALENDAR YEAR.

(O) "REVISED RBC PLAN" MEANS AN RBC PLAN THAT HAS BEEN:

(1)      REJECTED BY THE COMMISSIONER; AND

(2)      SUBSEQUENTLY REVISED BY THE INSURER, WITH OR WITHOUT THE
COMMISSIONER'S RECOMMENDATION.

(P) "TOTAL ADJUSTED CAPITAL" MEANS THE SUM OF:

(1)      AN INSURER'S STATUTORY CAPITAL AND SURPLUS AS DETERMINED
IN ACCORDANCE WITH THE STATUTORY ACCOUNTING PRINCIPLES APPLICABLE TO
THE ANNUAL FINANCIAL STATEMENTS REQUIRED TO BE FILED UNDER THIS
ARTICLE; AND

(2)      ANY OTHER ITEMS PROVIDED FOR IN THE RBC INSTRUCTIONS.

740.

(A) (1) (I) ON OR BEFORE THE FILING DATE, EACH DOMESTIC INSURER
SHALL PREPARE AND SUBMIT TO THE COMMISSIONER A REPORT OF ITS RBC LEVELS
AS OF THE END OF THE IMMEDIATELY PRECEDING CALENDAR YEAR.

(II) THE RBC REPORT SHALL BE IN THE FORM AND SHALL
CONTAIN THE INFORMATION REQUIRED BY THE RBC INSTRUCTIONS.

(2) IN ADDITION TO THE REQUIREMENTS OF PARAGRAPH (1) OF THIS
SUBSECTION, EVERY DOMESTIC INSURER SHALL FILE ITS RBC REPORT:

(I)      WITH THE NAIC IN ACCORDANCE WITH THE RBC
INSTRUCTIONS; AND

(II)     UPON WRITTEN REQUEST, WITH THE INSURANCE
COMMISSIONER OF ANY STATE IN WHICH THE INSURER IS AUTHORIZED TO DO
BUSINESS, ON OR BEFORE THE LATER OF:

1.        15 DAYS FROM THE RECEIPT OF THE WRITTEN REQUEST
TO FILE ITS RBC REPORT WITH THAT STATE; OR

2.        THE FILING DATE.

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