US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 54
                  RISK-BASED CAPITAL (RBC) FOR INSURERS ACT
    41-5407.  HEARINGS. Upon any of the following the insurer shall have the
right to a confidential departmental hearing, on a record, at which the
insurer may challenge any determination or action by the director. The insurer
shall notify the director of its request for a hearing within five (5) days
after the notification by the director under subsection (1), (2), (3) or (4)
of this section. Upon receipt of the insurer's request for a hearing, the
director shall set a date for the hearing, which date shall be no less than
ten (10) nor more than thirty (30) days after the date of the insurer's
request.
    (1)  Notification to an insurer by the director of an adjusted RBC report;
or
    (2)  Notification to an insurer by the director that:
    (a)  The insurer's RBC plan or revised RBC plan is unsatisfactory; and
    (b)  Such notification constitutes a regulatory action level event with
    respect to such insurer; or
    (3)  Notification to any insurer by the director that the insurer has
failed to adhere to its RBC plan or revised RBC plan and that such failure has
a substantial adverse effect on the ability of the insurer to eliminate the
company action level event with respect to the insurer in accordance with its
RBC plan or revised RBC plan; or
    (4)  Notification to an insurer by the director of a corrective order with
respect to the insurer.