South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:06 - INSURANCE
Chapter 20:06:36 - Risk-based capital (RBC) reports
Section 20:06:36:14 - Regulatory action level event - Required actions by director
Current through Register Vol. 50, page 114, March 25, 2024
If a regulatory action level event occurs, the director shall do the following:
(1) Require the insurer or health organization to prepare and submit an RBC plan or, if applicable, a revised RBC plan;
(2) Perform any examination or analysis the director considers necessary of the assets, liabilities, and operations of the insurer or health organization, including a review of its RBC plan or revised RBC plan; and
(3) Subsequent to the examination or analysis, issue a corrective order specifying the corrective actions to be taken by the insurer or health organization. In determining corrective actions, the director may take into account any factors considered relevant to the insurer or health organization based on the director's examination or analysis of the assets, liabilities, and operations of the insurer or health organization, including the results of any sensitivity tests undertaken pursuant to the RBC instructions.
General Authority: SDCL 58-4-48.
Law Implemented: SDCL 58-4-48.
