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Ala. Code § 27-2B-14 (1975) Rbc Reports With Respect to 1996
Library | Alabama Statutes |
Edition | 2023 |
Currency | Current with legislation from the 2023 Regular and Special Sessions. |
Year | 2023 |
Citation | Ala. Code § 27-2B-14 (1975) |
(a) For RBC reports required to be filed by life insurers with respect to 1996, the following requirements shall apply in lieu of the provisions of Sections 27-2B-4, 27-2B-5, 27-2B-6, and 27-2B-7 as follows:
(1) In the event of a company action level event, with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder.
(2) In the event of a regulatory action level event under subdivisions (1), (2), or (3) of subsection (a) of Section 27-2B-5, the commissioner shall take the actions required under Section 27-2B-4.
(3) In the event of a regulatory action level event under subdivisions (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 27-2B-5, or an authorized control level event, the commissioner shall take the actions required under Section 27-2B-5 with respect to the insurer.
(4) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under Section 27-2B-6.
(b) For RBC reports required to be filed by property and casualty insurers with respect to 1996, the following requirements shall apply in lieu of the provisions of Sections 27-2B-4, 27-2B-5, 27-2B-6, and 27-2B-7:
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