Kansas Statutes 40-2c14. Review of RBC plans; expenses
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 40-2c14
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commissioner: means the commissioner of insurance. See Kansas Statutes 40-2c01
- Corrective order: means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required to address an RBC level event. See Kansas Statutes 40-2c01
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- RBC: means risk-based capital. See Kansas Statutes 40-2c01
- RBC plan: means a comprehensive financial plan containing the elements specified in Kan. See Kansas Statutes 40-2c01
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.