US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 54
                  RISK-BASED CAPITAL (RBC) FOR INSURERS ACT
    41-5410.  FOREIGN INSURERS. (1) Any foreign insurer shall, upon the
written request of the director, submit to the director an RBC report as of
the end of the calendar year just ended the later of:
    (a)  The date an RBC report would be required to be filed by a domestic
    insurer under this chapter; or
    (b)  Fifteen (15) days after the request is received by the foreign
    insurer.
    Any foreign insurer shall, at the written request of the director,
promptly submit to the director a copy of any RBC plan that is filed with the
insurance director of any other state.
    (2)  In the event of a company action level event, regulatory action level
event or authorized control level event with respect to any foreign insurer as
determined under the RBC statute applicable in the state of domicile of the
insurer (or, if no RBC statute is in force in that state, under the provisions
of this chapter), if the insurance director of the state of domicile of the
foreign insurer fails to require the foreign insurer to file an RBC plan in
the manner specified under that state's RBC statute (or, if no RBC statute is
in force in that state, under section 41-5403, Idaho Code), the director may
require the foreign insurer to file an RBC plan with the director. In such
event, the failure of the foreign insurer to file an RBC plan with the
director shall be grounds to order the insurer to cease and desist from
writing new insurance business in this state.
    (3)  In the event of a mandatory control level event with respect to any
foreign insurer, if no domiciliary receiver has been appointed with respect to
the foreign insurer under the rehabilitation and liquidation statute
applicable in the state of domicile of the foreign insurer, the director may
make application to the district court for Ada county, state of Idaho, as
permitted under chapter 33, title 41, Idaho Code, with respect to the
liquidation of property of foreign insurers found in this state, and the
occurrence of the mandatory control level event shall be considered adequate
grounds for the application.