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§ 221.15-B. Phase-in provisions

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: June 22, 2000

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 1. Insurance Department (Refs & Annos)
Article V-B. Risk-Based Capital Requirements-Health Organizations (Refs & Annos)
Effective: June 22, 2000
40 P.S. § 221.15-B
§ 221.15-B. Phase-in provisions
Currentness
(a) This article shall apply to RBC reports required for the year ending December 31, 1999, and each year thereafter.
(b) Notwithstanding the provisions of sections 505-B, 506-B, 507-B and 508-B,1 the following provisions shall apply to domestic health organizations with respect to RBC reports filed with the department for the year ending December 31, 1999:
(1) In the event of a company action level event, the commissioner shall take no regulatory action under this article.
(2) In the event of a regulatory action level event as defined in paragraphs (1) and (2) of the definition of “regulatory action level event” in section 501-B,2 the department and the health organization shall take the actions required under section 505-B.
(3) In the event of a regulatory action level event as defined in paragraph (3), (4), (5) or (6) of the definition of “regulatory action level event” in section 501-B, the department shall take the actions required under section 506-B.
(4) In the event of a mandatory control level event, the department shall take the actions required under section 507-B.

Credits

1921, May 17, P.L. 789, No. 285, § 515-B, added 2000, June 22, P.L. 457, No. 62, § 1, imd. effective.

Footnotes

1
40 P.S. §§ 221.5, 221.6-B, 221.7-B, 221.8-B.
2
40 P.S. § 221.1-B.
40 P.S. § 221.15-B, PA ST 40 P.S. § 221.15-B
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document