PARRIS N. GLENDENING, Governor                                 Ch. 339

(E)     SUBJECT TO THE INSURER'S RIGHT TO A HEARING, WHEN THE
COMMISSIONER NOTIFIES AN INSURER THAT THE INSURER'S RBC PLAN OR REVISED
RBC PLAN IS UNSATISFACTORY, THE COMMISSIONER MAY SPECIFY IN THE
NOTIFICATION THAT THE NOTIFICATION CONSTITUTES A REGULATORY ACTION
LEVEL EVENT.

(F)      (1) EVERY DOMESTIC INSURER THAT FILES AN RBC PLAN OR REVISED
RBC PLAN WITH THE COMMISSIONER SHALL FILE A COPY OF THE RBC PLAN OR
REVISED RBC PLAN WITH THE INSURANCE COMMISSIONER OF ANY STATE IN WHICH
THE INSURER IS AUTHORIZED TO DO BUSINESS IF:

(I) THE STATE HAS A CONFIDENTIALITY PROVISION
SUBSTANTIALLY SIMILAR TO § 747(A) OF THIS SUBTITLE; AND

(II) THE INSURANCE COMMISSIONER OF THAT STATE HAS
NOTIFIED THE INSURER IN WRITING OF ITS REQUEST FOR THE FILING.

(2) UPON A REQUEST MADE BY AN INSURANCE COMMISSIONER OF
ANOTHER STATE UNDER THIS SUBSECTION, THE INSURER SHALL FILE A COPY OF
THE RBC PLAN OR REVISED RBC PLAN WITH THE INSURANCE COMMISSIONER
REQUESTING THE PLAN BY THE LATER OF:

(I)       15 DAYS AFTER THE RECEIPT OF NOTICE TO FILE A COPY OF
ITS RBC PLAN OR REVISED RBC PLAN WITH THAT STATE; OR

(II)     THE DATE ON WHICH THE RBC PLAN OR REVISED RBC PLAN IS
FILED UNDER SUBSECTION (C) OR SUBSECTION (D) OF THIS SECTION.

743.

(A) A REGULATORY ACTION LEVEL EVENT OCCURS WHEN:

(1)      AN INSURER FILES AN RBC REPORT WHICH INDICATES THAT THE
INSURER'S TOTAL ADJUSTED CAPITAL IS:

(I)      GREATER THAN OR EQUAL TO ITS AUTHORIZED CONTROL
LEVEL RBC; AND

(II)     LESS THAN ITS REGULATORY ACTION LEVEL RBC;

(2)      THE COMMISSIONER NOTIFIES AN INSURER OF AN ADJUSTED RBC
REPORT THAT INDICATES AN EVENT UNDER PARAGRAPH (1) OF THIS SUBSECTION;

(3)      IF AN INSURER REQUESTS A HEARING TO CHALLENGE AN
ADJUSTED RBC REPORT THAT INDICATES AN EVENT UNDER PARAGRAPH (1) OF
THIS SUBSECTION, THE COMMISSIONER NOTIFIES THE INSURER THAT THE
COMMISSIONER, AFTER A HEARING, HAS REJECTED THE INSURER'S CHALLENGE;

(4)      AN INSURER FAILS TO FILE AN RBC REPORT BY THE FILING DATE,
UNLESS THE INSURER:

(I) HAS PROVIDED THE COMMISSIONER WITH A SATISFACTORY
EXPLANATION FOR THE FAILURE; AND

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