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.
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