Ch. 339

1995 LAWS OF MARYLAND

(4) IDENTIFY THE KEY ASSUMPTIONS THAT IMPACT THE INSURER'S
PROJECTIONS AND THE SENSITIVITY OF THE PROJECTIONS TO THE ASSUMPTIONS;
AND

(5) IDENTIFY THE QUALITY OF AND THE PROBLEMS ASSOCIATED WITH
THE INSURER'S BUSINESS, INCLUDING ITS ASSETS, ANTICIPATED BUSINESS GROWTH
AND ASSOCIATED SURPLUS STRAIN, EXTRAORDINARY EXPOSURE TO RISK. MIX OF
BUSINESS, AND USE OF REINSURANCE, AS APPROPRIATE.

(C) THE INSURER SHALL SUBMIT THE RBC PLAN TO THE COMMISSIONER:

(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 AN INSURER SUBMITS AN RBC PLAN TO THE
COMMISSIONER, THE COMMISSIONER SHALL NOTIFY THE INSURER WHETHER THE
COMMISSIONER HAS DETERMINED THAT THE RBC PLAN MAY BE IMPLEMENTED OR
THAT THE RBC PLAN 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 THAT WILL MAKE THE
RBC PLAN SATISFACTORY TO THE COMMISSIONER.

(3)      ON NOTIFICATION THAT THE RBC PLAN IS UNSATISFACTORY, 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 INSURER SHALL SUBMIT THE REVISED RBC PLAN REQUIRED BY
PARAGRAPH (3) OF THIS SUBSECTION 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 NOTIFICATION
TO THE INSURER THAT THE COMMISSIONER. AFTER A HEARING, HAS REJECTED THE
INSURER'S CHALLENGE.

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