reglab/housing_qa huggingface dataset:
KS Stat § 40-2c13 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c13 Corrective actions; submission of RBC plans, when.

40-2c13. Corrective actions; submission of RBC plans, when. In determining corrective actions, the commissioner may take into account such factors as are deemed relevant with respect to the insurer based upon the commissioner's examination or analysis of the assets, liabilities and operations of the insurer, including, but not limited to, the results of any sensitivity tests undertaken pursuant to the RBC instructions. The RBC plan or revised RBC plan shall be submitted:(a) Within 45 days after the occurrence of the regulatory action level event;(b) within 45 days after the notification to the insurer that the commissioner has rejected the insurer's challenge to an adjusted RBC report pursuant to K.S.A. 40-2c19, and amendments thereto; or(c) within 45 days after notification to the insurer that the commissioner has rejected the insurer's challenge to a revised RBC plan pursuant to K.S.A. 40-2c19, and amendments thereto.History: L. 1994, ch. 138, § 13; L. 1996, ch. 134, § 5; July 1.
KS Stat § 40-2c14 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c14 Review of RBC plans; expenses.

40-2c14. Review of RBC plans; expenses. The commissioner may retain actuaries and investment experts and other consultants as may be necessary in the judgment of the commissioner to review the insurer's RBC plan or revised RBC plan, examine or analyze the assets, liabilities and operations of the insurer and formulate the corrective order with respect to the insurer. The reasonable fees, costs and expenses relating to consultants shall be borne by the affected insurer or other party as directed by the commissioner.History: L. 1994, ch. 138, § 14; July 1.
KS Stat § 40-2c15 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c15 Authorized control level event; defined.

40-2c15. Authorized control level event; defined. "Authorized control level event" means any of the following events:(a) The filing of an RBC report by the insurer which indicates that the insurer's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;(b) the notification by the commissioner to the insurer of an adjusted RBC report that indicates the event described in subsection (a) if:(1) The insurer does not challenge the adjusted RBC report pursuant to K.S.A. 40-2c19, and amendments thereto; or(2) the commissioner has rejected such challenge;(c) the failure of the insurer to respond, in a manner satisfactory to the commissioner, to a corrective order if the insurer has not challenged the corrective order under K.S.A. 40-2c19, and amendments thereto; or(d) if the commissioner has rejected the challenge to the corrective order or modified the corrective order pursuant to K.S.A. 40-2c19, and amendments thereto, the failure of the insurer to respond, in a manner satisfactory to the commissioner, to the corrective order subsequent to rejection or modification by the commissioner.History: L. 1994, ch. 138, § 15; L. 1996, ch. 134, § 6; July 1.
KS Stat § 40-2c16 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c16 Same; commissioner's duties in authorized control level event.

40-2c16. Same; commissioner's duties in authorized control level event. In the event of an authorized control level event with respect to an insurer, the commissioner shall:(a) Take such actions as are required under K.S.A. 40-2c11 through 40-2c14 regarding an insurer with respect to which a regulatory action level event has occurred; or(b) if the commissioner deems it to be in the best interests of the policyholders and creditors of the insurer and of the public, take such actions as are necessary to cause the insurer to be placed under regulatory control pursuant to K.S.A. 40-3605 et seq., and amendments thereto. 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 K.S.A. 40-3605 et seq., and amendments thereto, and the commissioner shall have the rights, powers and duties with respect to the insurer as are set forth in K.S.A. 40-3605 et seq., and amendments thereto. In the event the commissioner takes actions under this subsection pursuant to an adjusted RBC report, the insurer shall be entitled to such protections as are afforded to insurers under the provisions of K.S.A. 77-601 et seq., and amendments thereto, pertaining to summary proceedings.History: L. 1994, ch. 138, § 16; July 1.
KS Stat § 40-2c17 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c17 Mandatory control event; defined.

40-2c17. Mandatory control event; defined. "Mandatory control event" means any of the following events:(a) The filing of an RBC report which indicates that the insurer's total adjusted capital is less than its mandatory control level RBC;(b) notification by the commissioner to the insurer of an adjusted RBC report that indicates the event described in subsection (a) if:(1) The insurer does not challenge the adjusted RBC report pursuant to K.S.A. 40-2c19; or(2) the commissioner has rejected such challenge.History: L. 1994, ch. 138, § 17; July 1.
KS Stat § 40-2c18 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c18 Same; commissioner's actions.

40-2c18. Same; commissioner's actions. In the event of a mandatory control level event with respect to: (a) A life and health insurer, the commissioner shall take actions as are necessary to cause the insurer to be placed under regulatory control under K.S.A. 40-3605 et seq., and amendments thereto. In that event, the mandatory control level event shall be deemed sufficient grounds for the commissioner to take action under K.S.A. 40-3605 et seq., and amendments thereto, and the commissioner shall have the rights, powers, and duties with respect to the insurer as are set forth in K.S.A. 40-3605 et seq., and amendments thereto. In the event the commissioner takes actions pursuant to an adjusted RBC report, the insurer shall be entitled to such protections as are afforded to insurers under the provisions of K.S.A. 77-601 et seq., and amendments thereto, 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 there is a reasonable expectation that the mandatory control level event may be eliminated within the 90-day period;(b) A property and casualty insurer, the commissioner shall take such actions as are necessary to place the insurer under regulatory control under K.S.A. 40-3605 et seq., and amendments thereto, or, in the case of an insurer which is writing no business and which is running-off its existing business, may allow the insurer to continue its run-off under the supervision of the commissioner. In either event, the mandatory control level event shall be deemed sufficient grounds for the commissioner to take action under K.S.A. 40-3605 et seq., and amendments thereto and the commissioner shall have the rights, powers and duties with respect to the insurer as are set forth in K.S.A. 40-3605 et seq., and amendments thereto. If the commissioner takes actions pursuant to an adjusted RBC report, the insurer shall be entitled to such protections as are afforded to insurers under the provisions of K.S.A. 77-601 et seq., and amendments thereto, 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 there is a reasonable expectation that the mandatory control level event may be eliminated with the 90-day period.History: L. 1994, ch. 138, § 18; L. 1996, ch. 134, § 7; July 1.
KS Stat § 40-2c19 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c19 Hearing under Kansas administrative procedure act.

40-2c19. Hearing under Kansas administrative procedure act. (a) Upon notification to an insurer by the commissioner of an adjusted RBC report; or(b) upon notification to an insurer by the commissioner that:(1) The insurer's RBC plan or revised RBC plan is unsatisfactory; and(2) such notification constitutes a regulatory action level event with respect to such insurer; or(c) upon notification to any insurer by the commissioner 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(d) upon notification to an insurer by the commissioner of a corrective order with respect to the insurer,the insurer shall have the right to a hearing under the Kansas administrative procedure act, at which the insurer may challenge any determination or action by the commissioner. The insurer shall notify the commissioner of its request for a hearing within five days after the notification by the commissioner under subsections (a), (b), (c) or (d). Upon receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing, which date shall be no less than 10 nor more than 30 days after receipt of the insurer's request. Such hearing shall be governed by K.S.A. 77-513 through 77-532, and amendments thereto.History: L. 1994, ch. 138, § 19; July 1.
KS Stat § 40-2c20 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c20 RBC reports, plans and corrective orders are confidential; not to be used by commissioner for rate making.

40-2c20. RBC reports, plans and corrective orders are confidential; not to be used by commissioner for rate making. (a) All RBC reports, RBC plans and any corrective orders, including the working papers and the results of any analysis of an insurer performed under this act shall be kept confidential by the commissioner. This information shall not be made public or subject to subpoena, other than by the commissioner and then only for the purpose of enforcement actions taken by the commissioner pursuant to this act or any other provision of the insurance laws of this state.(b) RBC instructions, RBC reports, adjusted RBC reports, RBC plans and revised RBC plans are intended solely for use by the commissioner in monitoring the solvency of insurers and the need for possible corrective action with respect to insurers and shall not be used by the commissioner for ratemaking nor considered or introduced as evidence in any rate proceeding nor used by the commissioner to calculate or derive any elements of an appropriate premium level or rate of return for any line of insurance which an insurer or any affiliate is authorized to write.History: L. 1994, ch. 138, § 20; L. 1996, ch. 134, § 8; July 1.
KS Stat § 40-2c21 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c21 Comparison of insurer's total adjusted capital to RBC levels, prohibited generally.

40-2c21. Comparison of insurer's total adjusted capital to RBC levels, prohibited generally. The comparison of an insurer's total adjusted capital to any of its RBC levels is a regulatory tool, and shall not be used to rank insurers generally. Therefore, except as otherwise required under the provisions of this act, the making, publishing, disseminating, circulating or placing before the public, or causing, directly or indirectly to be made, published, disseminated, circulated or placed before the public, in a newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or poster, or over any radio or television station, or in any other way, an advertisement, announcement or statement containing an assertion, representation or statement with regard to the RBC levels of any insurer, or of any component derived in the calculation, by any insurer, agent, broker or other person engaged in any manner in the insurance business is prohibited. Notwithstanding the foregoing, if any materially false statement with respect to the comparison regarding an insurer's total adjusted capital to any of its RBC levels or an inappropriate comparison of any other amount to the insurer's RBC levels is published in any written publication and the insurer is able to demonstrate to the commissioner with substantial proof the falsity or misrepresentative nature of such statement, the insurer may publish a rebuttal if the sole purpose of such publication is to rebut the materially false or improper statement.History: L. 1994, ch. 138, § 21; July 1.
KS Stat § 40-2c22 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c22 Provisions of act supplemental to other provisions of law.

40-2c22. Provisions of act supplemental to other provisions of law. The provisions of this act are supplemental to any other provisions of the laws of this state, and shall not preclude nor limit any other powers or duties of the commissioner under such laws, including, but not limited to K.S.A. 40-222b and 40-3605 et seq., and amendments thereto.History: L. 1994, ch. 138, § 22; July 1.
KS Stat § 40-2c23 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c23 Foreign insurer RBC report, when.

40-2c23. Foreign insurer RBC report, when. Any foreign insurer 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 insurer under this act; or(b) fifteen days after the request is received by the foreign insurer.Any foreign insurer, at the written request of the commissioner, shall submit promptly to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state.History: L. 1994, ch. 138, § 23; July 1.
KS Stat § 40-2c24 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c24 Commissioner may require foreign insurer to file RBC plan, when.

40-2c24. Commissioner may require foreign insurer to file RBC plan, when. 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 provision is in force in that state, under the provisions of this act, if the insurance commissioner 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 the RBC statute or, if there are no RBC provisions in force in the state, under K.S.A. 40-2c05, 40-2c06, 40-2c07, 40-2c08, 40-2c09 and 40-2c10, and amendments thereto, the commissioner may require the foreign insurer to file an RBC plan with the commissioner. In such event, the failure of the foreign insurer to file an RBC plan with the commissioner shall be grounds to order the insurer to cease and desist from writing new insurance business in this state.History: L. 1994, ch. 138, § 24; L. 1996, ch. 134, § 9; July 1.
KS Stat § 40-2c25 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c25 Mandatory control level event; foreign insurer; liquidation of property.

40-2c25. Mandatory control level event; foreign insurer; liquidation of property. 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 commissioner may make application to the district court as permitted under K.S.A. 40-3605 et seq., and amendments thereto 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.History: L. 1994, ch. 138, § 25; July 1.
KS Stat § 40-2c26 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c26 Notices by commissioner; effective, when.

40-2c26. Notices by commissioner; effective, when. All notices by the commissioner to an insurer which may result in regulatory action under this act 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.History: L. 1994, ch. 138, § 26; July 1.
KS Stat § 40-2c27 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c27 Invalidity of act.

40-2c27. Invalidity of act. If any provisions of this act, or the application of the act to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this act which can be given effect without the invalid provision or application, and to that end the provisions of this act are severable.History: L. 1994, ch. 138, § 27; July 1.
KS Stat § 40-2c28 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c28 Property and casualty insurer exempt; when.

40-2c28. Property and casualty insurer exempt; when. The commissioner may exempt from the application of K.S.A. 40-2c01 through 40-2c27, and amendments thereto, any domestic property and casualty insurer which:(a) Writes direct business only in this state;(b) writes direct annual premiums of $2,000,000 or less; and(c) assumes no reinsurance in excess of 5% of direct premiums written.History: L. 1996, ch. 134, § 10; July 1.
KS Stat § 40-2c29 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2c - Risk-based Capital Requirements|40-2c29 RBC; rules and regulations; conditions.

40-2c29. RBC; rules and regulations; conditions. On and after July 1, 2009, the commissioner may adopt by rules and regulations, any later version of the RBC instructions promulgated by the NAIC, which are consistent with the provisions of this act, including the provisions of K.S.A. 40-2c03, and amendments thereto, provided that before any later version may be adopted by the commissioner in rules and regulations, the commissioner shall prepare an impact statement indicating the projected impact upon domestic insurers and notify any affected insurer of the projected impact. If the projected impact is likely to cause the amount of a domestic insurer's total adjusted capital or its RBC report for the previous year to vary by more than 2.5% or to cause a domestic insurer's control level to change upon application of the later version of the risk-based capital instructions, then such later version shall not be adopted in rules and regulations until such later version is approved by legislative action.History: L. 2009, ch. 83, § 20; Apr. 23.
KS Stat § 40-2d02 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2d - Health Organization Risk-based Capital Requirements|40-2d02 Risk-based capital report.

40-2d02. Risk-based capital report. (a) Except as provided in paragraph (b), every domestic health organization shall prepare and submit to the commissioner, on or before March 1, 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, every 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 such 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) 15 days from the receipt of notice to file its RBC report with that state; or(B) the filing date otherwise specified in this subsection.(b) The risk-based capital requirements of this section shall not apply to any health organization contracting with the Kansas department for children and families to provide services provided under title XIX and title XXI of the social security act or any other public benefits, provided the public benefit contracts represent at least 90% of the premium volume of the health organization.History: L. 2000, ch. 147, § 3; L. 2014, ch. 115, § 186; July 1.
KS Stat § 40-2d03 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2d - Health Organization Risk-based Capital Requirements|40-2d03 Determination of risk-based capital.

40-2d03. Determination of risk-based capital. (a) A health organization's RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take into account and may adjust for the covariance between:(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; determined in each case by applying the factors in the manner set forth in the RBC instructions.(b) An excess of capital over the amount produced by the risk-based capital requirements contained in this act and the formulas, schedules and instructions referenced in this act is desirable in the business of insurance. Accordingly, each health organization should seek to maintain capital above the RBC levels required by this act. 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 act.History: L. 2000, ch. 147, § 4; July 1.
KS Stat § 40-2d04 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2d - Health Organization Risk-based Capital Requirements|40-2d04 Risk-based capital report; adjustment.

40-2d04. Risk-based capital report; adjustment. If a domestic health organization files an RBC report which in the judgment of the commissioner is inaccurate, the commissioner shall adjust the RBC report to correct the inaccuracy and shall notify such health organization of the adjustment. The notice shall contain a statement of the reason for the adjustment. A RBC report as so adjusted is referred to as an adjusted RBC report.History: L. 2000, ch. 147, § 5; July 1.
KS Stat § 40-2d05 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 2d - Health Organization Risk-based Capital Requirements|40-2d05 Company action level event; defined.

40-2d05. Company action level event; defined. "Company action level event" means any of the following events:(a) The filing of an RBC report by a health organization which indicates that:(1) The health organization's total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; or(2) the health organization has total adjusted capital which is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and 3.0, and triggers the trend test determined in accordance with the trend test calculation included in the health RBC instructions as defined in K.S.A. 40-2d01, and amendments thereto.(b) The notification by the commissioner to the health organization of an adjusted RBC report that indicates the event described in subsection (a) if:(1) The health organization does not challenge the adjusted RBC report pursuant to K.S.A. 40-2d19, and amendments thereto; or(2) the commissioner has rejected such challenge after a hearing.History: L. 2000, ch. 147, § 6; L. 2013, ch. 39, § 1; July 1.