PARRIS N. GLENDENING, Governor                                 Ch. 339

(D) THE INSURER SHALL SUBMIT THE RBC PLAN OR REVISED RBC PLAN TO
THE COMMISSIONER:

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

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

(E) (1) THE COMMISSIONER MAY RETAIN ACTUARIES, INVESTMENT
EXPERTS, AND OTHER CONSULTANTS AS NECESSARY IN THE JUDGMENT OF THE
COMMISSIONER TO:

(I) REVIEW AN INSURER'S RBC PLAN OR REVISED RBC PLAN;

(II) EXAMINE OR ANALYZE THE ASSETS, LIABILITIES, AND
OPERATION OF THE INSURER; AND

(III) FORMULATE THE CORRECTIVE ORDER TO BE IMPOSED ON
THE INSURER.

(2) THE FEES, COSTS, AND EXPENSES THAT RELATE TO ANY
ACTUARIES, INVESTMENT EXPERTS, OR OTHER CONSULTANTS RETAINED UNDER
THIS SUBSECTION SHALL BE BORNE BY THE AFFECTED INSURER AS DIRECTED BY
THE COMMISSIONER.

4-307.

(A) AN AUTHORIZED CONTROL 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 MANDATORY CONTROL
LEVEL RBC; AND

(II)     LESS THAN ITS AUTHORIZED CONTROL LEVEL RBC;

(2)      THE COMMISSIONER NOTIFIES THE 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 THE 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) THE INSURER FAILS TO RESPOND TO A CORRECTIVE ORDER IN A
MANNER SATISFACTORY TO THE COMMISSIONER; OR

(5) IF AN INSURER HAS REQUESTED A HEARING TO CHALLENGE A
CORRECTIVE ORDER ISSUED BY THE COMMISSIONER:

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