PARRIS N. GLENDENING, Governor                                 Ch. 339

(E) SUBJECT TO THE RIGHT OF THE INSURER 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) EACH 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 § 4-310(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) ON REQUEST OF AN INSURANCE COMMISSIONER OF ANOTHER
STATE UNDER THIS SUBSECTION, THE INSURER SHALL FILE A COPY OF THE RBC
PLAN OR REVISED RBC PLAN WITH THAT INSURANCE COMMISSIONER BY THE LATER
OF:

(I) 15 DAYS AFTER RECEIPT OF THE NOTIFICATION 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 (D) OF THIS SECTION.

4-306.

(A) A REGULATORY ACTION LEVEL EVENT OCCURS WHEN:

(1) AN INSURER FILES AN RBC REPORT THAT INDICATES THAT THE
INSURER HAS TOTAL ADJUSTED CAPITAL THAT 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 ITEM (1) OF THIS SUBSECTION;

(3)      IF AN INSURER REQUESTS A HEARING TO CHALLENGE AN
ADJUSTED RBC REPORT THAT INDICATES AN EVENT UNDER ITEM (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 HAS:

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

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