Ch. 339

1995 LAWS OF MARYLAND

(5) IDENTIFY THE QUALITY OF AND THE PROBLEMS ASSOCIATED WITH
THE INSURER'S BUSINESS, INCLUDING BUT NOT LIMITED TO ITS ASSETS,
ANTICIPATED BUSINESS GROWTH AND ASSOCIATED SURPLUS STRAIN,
EXTRAORDINARY EXPOSURE TO RISK, MIX OF BUSINESS AND USE OF
REINSURANCE, AS APPROPRIATE.

(C)     THE RBC PLAN SHALL BE SUBMITTED:

(1)      WITHIN 45 DAYS AFTER THE DATE OF THE COMPANY ACTION LEVEL
EVENT; OR

(2)      IF THE INSURER REQUESTS A HEARING TO CHALLENGE AN
ADJUSTED RBC REPORT, WITHIN 45 DAYS AFTER NOTIFICATION TO THE INSURER
THAT THE COMMISSIONER, AFTER A HEARING, HAS REJECTED THE INSURER'S
CHALLENGE.

(D)     (1) WITHIN 60 DAYS AFTER THE SUBMISSION BY AN INSURER OF AN RBC
PLAN TO THE COMMISSIONER, THE COMMISSIONER SHALL NOTIFY THE INSURER
WHETHER THE COMMISSIONER HAS DETERMINED WHETHER THE RBC PLAN MAY BE
IMPLEMENTED OR IS UNSATISFACTORY.

(2)      IF THE COMMISSIONER DETERMINES THAT THE RBC PLAN IS
UNSATISFACTORY, THE NOTIFICATION TO THE INSURER:

(I)       SHALL SET FORTH THE REASONS FOR THE DETERMINATION;
AND

(II)     MAY SET FORTH PROPOSED REVISIONS WHICH WILL RENDER
THE RBC PLAN SATISFACTORY TO THE COMMISSIONER.

(3)      UPON NOTIFICATION FROM THE COMMISSIONER, THE INSURER
SHALL:

(I)       PREPARE A REVISED RBC PLAN, WHICH MAY INCORPORATE BY
REFERENCE ANY REVISIONS PROPOSED BY THE COMMISSIONER; AND

(II)     SUBMIT THE REVISED RBC PLAN TO THE COMMISSIONER.

(4)      THE REVISED RBC PLAN REQUIRED SHALL BE SUBMITTED TO THE
COMMISSIONER:

(I)       WITHIN 45 DAYS AFTER THE NOTIFICATION FROM THE
COMMISSIONER; OR

(II)     IF THE INSURER REQUESTS A HEARING TO CHALLENGE THE
NOTIFICATION FROM THE COMMISSIONER, WITHIN 45 DAYS AFTER A NOTIFICATION
TO THE INSURER THAT THE COMMISSIONER, AFTER A HEARING, HAS REJECTED THE
INSURER'S CHALLENGE. .

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