reglab/housing_qa huggingface dataset:
18 DE Code § 5811. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter I. Risk-Based Capital (Rbc) for Insurers|§ 5811. Immunity.

§ 5811. Immunity. There shall be no liability on the part of, and no cause of action shall arise against, the Commissioner or the Insurance Department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter. 70 Del. Laws, c. 234, §  1;  79 Del. Laws, c. 425, §  2;
18 DE Code § 5812. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter I. Risk-Based Capital (Rbc) for Insurers|§ 5812. Notices.

§ 5812. Notices. All notices by the Commissioner to an insurer which may result in regulatory action hereunder shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the insurer's receipt of such notice. 70 Del. Laws, c. 234, §  1;  79 Del. Laws, c. 425, §  2;
18 DE Code § 5813. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter I. Risk-Based Capital (Rbc) for Insurers|§ 5813. Phase-in provision.

§ 5813. Phase-in provision. For RBC reports required to be filed insurers with respect to 1994, the following requirements shall apply in lieu of the provisions of §§ 5803, 5804, 5805 and 5806 of this title:  (1) In the event of a Company Action Level Event with respect to a domestic insurer, the Commissioner shall take no regulatory action hereunder. (2) In the event of a Regulatory Action Level Event under § 5804(a)(1), (2) or (3) of this title the Commissioner shall take the actions required under § 5803 of this title. (3) In the event of a Regulatory Action Level Event under § 5804(a)(4), (5), (6), (7), (8) or (9) of this title or an Authorized Control Level Event, the Commissioner shall take the actions required under § 5804 of this title with respect to the insurer. (4) In the event of a Mandatory Control Level Event with respect to an insurer, the Commissioner shall take the actions required under § 5805 of this title with respect to the insurer.70 Del. Laws, c. 234, §  1;  79 Del. Laws, c. 425, §  2;
18 DE Code § 5821. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5821. RBC reports.

§ 5821. RBC reports. (a) A domestic health organization shall, on or prior to each March 1 or the required annual statement filing date if later (the “filing date”), prepare and submit to the Commissioner a report of its RBC levels as of the end of the calendar year just ended, in a form and containing such information as is required by the RBC instructions. In addition, a domestic health organization shall file its RBC report:  (1) With the NAIC in accordance with the RBC instructions; and (2) With the insurance commissioner in any state in which the health organization is authorized to do business, if the insurance commissioner has notified the health organization of its request in writing, in which case the health organization shall file its RBC report not later than the later of:  a. Fifteen days from the receipt of notice to file its RBC report with that state; or b. The filing date. (b) A health organization's RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take the following into account (and may adjust for the covariance between) determined in each case by applying the factors in the manner set forth in the RBC instructions. (1) Asset risk; (2) Credit risk; (3) Underwriting risk; and (4) All other business risks and such other relevant risks as are set forth in the RBC instructions. (c) An excess of capital (i.e. net worth) over the amount produced by the risk-based capital requirements contained in this subchapter II and the formulas, schedules and instructions referenced in this subchapter II is desirable in the business of health insurance. Accordingly, health organizations should seek to maintain capital above the RBC levels required by this subchapter II. Additional capital is used and useful in the insurance business and helps to secure a health organization against various risks inherent in, or affecting, the business of insurance and not accounted for or only partially measured by the risk-based capital requirements contained in this subchapter II. (d) If a domestic health organization files an RBC report that in the judgment of the Commissioner is inaccurate, then the Commissioner shall adjust the RBC report to correct the inaccuracy and shall notify the health organization of the adjustment. The notice shall contain a statement of the reason for the adjustment. An RBC report as so adjusted is referred to as an “adjusted RBC report.” 79 Del. Laws, c. 425, §  3;
18 DE Code § 5824. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5824. Authorized control level event.

§ 5824. Authorized control level event. (a) “Authorized control level event” means any of the following events:  (1) The filing of an RBC report by the health organization that indicates that the health organization's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC; (2) The notification by the Commissioner to the health organization of an adjusted RBC report that indicates the event in paragraph (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 5826 of this title; (3) If, pursuant to § 5826 of this title, the health organization challenges an adjusted RBC report that indicates the event in paragraph (a)(1) of this section, notification by the Commissioner to the health organization that the Commissioner has, after a hearing, rejected the health organization's challenge; (4) The failure of the health organization to respond, in a manner satisfactory to the Commissioner, to a corrective order (provided the health organization has not challenged the corrective order under § 5826 of this title); or (5) If the health organization has challenged a corrective order under § 5826 of this title and the Commissioner has, after a hearing, rejected the challenge or modified the corrective order, the failure of the health organization to respond, in a manner satisfactory to the Commissioner, to the corrective order subsequent to rejection or modification by the Commissioner. (b) In the event of an authorized control level event with respect to a health organization, the Commissioner shall:  (1) Take such actions as are required under § 5823 of this title regarding a health organization with respect to which a regulatory action level event has occurred; or (2) If the Commissioner deems it to be in the best interests of the policyholders and creditors of the health organization and of the public, take such actions as are necessary to cause the health organization to be placed under regulatory control under Chapter 59 of this title. In the event the Commissioner takes such actions, the authorized control level event shall be deemed sufficient grounds for the Commissioner to take action under Chapter 59 of this title, and the Commissioner shall have the rights, powers and duties with respect to the health organization as are set forth Chapter 59 of this title. In the event the Commissioner takes actions under this paragraph pursuant to an adjusted RBC report, the health organization shall be entitled to such protections as are afforded to health organizations under the provisions of Chapter 59 of this title pertaining to summary proceedings.79 Del. Laws, c. 425, §  3;
18 DE Code § 5825. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5825. Mandatory control level event.

§ 5825. Mandatory control level event. (a) “Mandatory control level event” means any of the following events:  (1) The filing of an RBC report which indicates that the health organization's total adjusted capital is less than its mandatory control level RBC; (2) Notification by the Commissioner to the health organization of an adjusted RBC report that indicates the event in paragraph (a)(1) of this section, provided the health organization does not challenge the adjusted RBC report under § 5826 of this title; or (3) If, pursuant to § 5826 of this title, the health organization challenges an adjusted RBC report that indicates the event in paragraph (a)(1) of this section, notification by the Commissioner to the health organization that the Commissioner has, after a hearing, rejected the health organization's challenge. (b) In the event of a mandatory control level event, the Commissioner shall take such actions as are necessary to place the health organization under regulatory control under Chapter 59 of this title. In that event, the mandatory control level event shall be deemed sufficient grounds for the Commissioner to take action Chapter 59 of this title, and the Commissioner shall have the rights, powers and duties with respect to the health organization as are set forth in Chapter 59 of this title. If the Commissioner takes actions pursuant to an adjusted RBC report, the health organization shall be entitled to the protections of Chapter 59 of this title pertaining to summary proceedings. Notwithstanding any of the foregoing, the Commissioner may forego action for up to 90 days after the mandatory control level event if the Commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the 90-day period. 79 Del. Laws, c. 425, §  3;
18 DE Code § 5826. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5826. Hearings.

§ 5826. Hearings. Upon the occurrence of any of the following events, the health organization shall have the right to a confidential departmental hearing, on a record, at which the health organization may challenge any determination or action by the Commissioner. The health organization shall notify the Commissioner of its request for a hearing within 5 days after the notification by the Commissioner under paragraph (1), (2), (3) or (4) of this section. Upon receipt of the health organization's request for a hearing, the Commissioner shall set a date for the hearing, which shall be no less than 10 nor more than 30 days after the date of the health organization's request. The events include:  (1) Notification to a health organization by the Commissioner of an adjusted RBC report; (2) Notification to a health organization by the Commissioner that:  a. The health organization's RBC plan or revised RBC plan is unsatisfactory; and b. Notification constitutes a regulatory action level event with respect to the health organization; (3) Notification to a health organization by the Commissioner that the health organization has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event with respect to the health organization in accordance with its RBC plan or revised RBC plan; or (4) Notification to a health organization by the Commissioner of a corrective order with respect to the health organization.79 Del. Laws, c. 425, §  3;
18 DE Code § 5828. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5828. Supplemental provisions; rules; exemption.

§ 5828. Supplemental provisions; rules; exemption. (a) The provisions of this subchapter II are supplemental to any other provisions of the laws of this State, and shall not preclude or limit any other powers or duties of the Commissioner under such laws, including, but not limited to, Chapter 59 of this title and 18 DE Admin. Code §  304. (b) The Commissioner may adopt reasonable rules necessary for the implementation of this subchapter II. (c) The Commissioner may exempt from the application of this subchapter II a domestic health organization that:  (1) Writes direct business only in this State; (2) Assumes no reinsurance in excess of 5% of direct premium written; and (3) Writes direct annual premiums for comprehensive medical business of $2,000,000 or less; or (4) Is a limited health service organization that covers less than 2,000 lives.79 Del. Laws, c. 425, §  3;
18 DE Code § 5829. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5829. Foreign health organizations.

§ 5829. Foreign health organizations. (a) (1) A foreign health organization shall, upon the written request of the Commissioner, submit to the Commissioner 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 health organization under this subchapter II; or b. Fifteen days after the request is received by the foreign health organization. (2) A foreign health organization shall, at the written request of the Commissioner, promptly submit to the Commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state. (b) In the event of a company action level event, regulatory action level event or authorized control level event with respect to a foreign health organization as determined under the RBC statute applicable in the state of domicile of the health organization (or, if no RBC statute is in force in that state, under the provisions of this subchapter II), if the insurance commissioner of the state of domicile of the foreign health organization fails to require the foreign health organization 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 § 5822 of this title), the Commissioner may require the foreign health organization to file an RBC plan with the Commissioner. In such event, the failure of the foreign health organization to file an RBC plan with the Commissioner shall be grounds to order the health organization to cease and desist from writing new insurance business in this State. (c) In the event of a mandatory control level event with respect to a foreign health organization, if no domiciliary receiver has been appointed with respect to the foreign health organization under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign health organization, the Commissioner may make application to the Court of Chancery permitted under Chapter 59 of this title with respect to the liquidation of property of foreign health organizations found in this State, and the occurrence of the mandatory control level event shall be considered adequate grounds for the application. 79 Del. Laws, c. 425, §  3;
18 DE Code § 5830. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5830. Immunity.

§ 5830. Immunity. There shall be no liability on the part of, and no cause of action shall arise against, the Commissioner or the Insurance Department or its employees or agents for any action taken by them in the performance of their powers and duties under this subchapter II. 79 Del. Laws, c. 425, §  3;
18 DE Code § 5831. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5831. Severability clause.

§ 5831. Severability clause. If any provision of this subchapter II, or its application to any person or circumstance, is held invalid, that determination shall not affect the provisions or applications of this subchapter II that can be given effect without the invalid provision or application, and to that end the provisions of this subchapter II are severable. 79 Del. Laws, c. 425, §  3;
18 DE Code § 5832. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 58. Risk-Based Capital (Rbc)|Subchapter II. Risk-Based Capital (Rbc) for Health Organizations|§ 5832. Notices.

§ 5832. Notices. All notices by the Commissioner to a health organization that may result in regulatory action under this subchapter II shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the health organization's receipt of notice. 79 Del. Laws, c. 425, §  3;
18 DE Code § 5902. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 59. Rehabilitation and Liquidation|Subchapter I. General Provisions|§ 5902. Jurisdiction of delinquency proceedings; venue; change of venue; exclusiveness of remedy; appeal.

§ 5902. Jurisdiction of delinquency proceedings; venue; change of venue; exclusiveness of remedy; appeal. (a) The Court of Chancery shall have original jurisdiction of delinquency proceedings under this chapter, and any court with jurisdiction is authorized to make all necessary or proper orders to carry out the purposes of this chapter. (b) The venue of delinquency proceedings against a domestic insurer shall be in the county of the insurer's principal place of business. The venue of such proceedings against foreign and alien insurers shall be in any county in this State selected by the Commissioner for the purpose. (c) At any time after the commencement of a proceeding under this chapter the Commissioner may apply to the court for an order changing the venue of and removing the proceeding to any other county of this State in which the Commissioner deems that such proceeding may be most economically and efficiently conducted. (d) Delinquency proceedings pursuant to this chapter shall constitute the sole and exclusive method of liquidating, rehabilitating, reorganizing or conserving an insurer, and no court shall entertain a petition for the commencement of such proceedings unless the same has been filed in the name of the State on the relation of the Commissioner. (e) An appeal shall lie to the Supreme Court from an order granting or refusing rehabilitation, liquidation or conservation and from every order in delinquency proceedings having the character of a final order as to the particular portion of the proceedings embraced therein. 18 Del. C. 1953, §  5902;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5903. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 59. Rehabilitation and Liquidation|Subchapter I. General Provisions|§ 5903. Commencement of delinquency proceedings.

§ 5903. Commencement of delinquency proceedings. The Commissioner shall commence any such proceedings by application to the court for an order directing the insurer to show cause why the Commissioner should not have the relief prayed for. On the return of such order to show cause and after a full hearing, the court shall either deny the application or grant the application, together with such other relief as the nature of the case and the interests of the policyholders, creditors, stockholders, members, subscribers or the public may require. 18 Del. C. 1953, §  5903;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5904. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 59. Rehabilitation and Liquidation|Subchapter I. General Provisions|§ 5904. Injunctions [For application of this section, see 79 Del. Laws, c. 207, § 3].

§ 5904. Injunctions [For application of this section, see 79 Del. Laws, c. 207, § 3]. (a) Upon application by the Commissioner for such an order to show cause, or at any time thereafter, the court may without notice issue an injunction restraining the insurer, its officers, directors, stockholders, members, subscribers, agents and all other persons from the transaction of its business or the waste or disposition of its property until the further order of the court. (b) The court may at any time during a proceeding under this chapter issue such other injunctions or orders as may be deemed necessary to prevent interference with the Commissioner or the proceeding or waste of the assets of the insurer or the commencement or prosecution of any actions or the obtaining of preferences, judgments, attachments or other liens or the making of any levy against the insurer or against its assets or any part thereof. (c) Notwithstanding any other provision of law, no bond shall be required of the Commissioner as a prerequisite for the issuance of any injunction or restraining order pursuant to this section. (d) Notwithstanding subsection (a) of this section above, or any other provision of this chapter to the contrary, the commencement of a delinquency proceeding with respect to an insurer-member shall not operate as a stay, injunction or prohibition of the exercise by an FHLBank of its rights regarding collateral pledged by such insurer-member. 18 Del. C. 1953, §  5904;  56 Del. Laws, c. 380, §  1;  79 Del. Laws, c. 207, §  2;
18 DE Code § 5904A. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 59. Rehabilitation and Liquidation|Subchapter I. General Provisions|§ 5904A. Proceedings against bank insurance division.

§ 5904A. Proceedings against bank insurance division. (a) The Commissioner may in the Commissioner's discretion forthwith take possession of the business and property, including the books and records, of any division of a bank or trust company acting as an insurer whenever it shall appear that such division:  (1) Is conducting its business in an unauthorized or unsafe manner; (2) Is in an unsound or unsafe condition to transact its business; or (3) Cannot with safety and expediency continue business as a result of any cause whatsoever. (b) The Commissioner may require an examination of a bank or trust company, which bank or trust company has established and operates a division pursuant to § 767 of Title 5, by the Bank Commissioner as authorized under § 122 of Title 5, and a report of such examination shall be furnished to the Commissioner pursuant to § 124 of Title 5. (c) After taking possession of the division of a bank or trust company acting as an insurer, the Commissioner shall take such steps to conserve or rehabilitate the business and property of such division as the Commissioner deems practicable or desirable, or if in the judgment of the Commissioner such conservation or rehabilitation is not practicable or desirable, the Commissioner may proceed to liquidate such business and property. All proceedings of the Commissioner for the conservation, rehabilitation, or liquidation of a division of a bank or trust company acting as an insurer shall be in accordance with the provisions of this title applicable to the conservation, rehabilitation or liquidation of insurers by the Commissioner. 67 Del. Laws, c. 223, §  38;  70 Del. Laws, c. 186, §  1;