NAC681B.520. Action by Commissioner; determination of need for corrective action.

     1. If an event that requires regulatory action occurs, the Commissioner will:

     (a) Perform such examinations and analyses of the assets, liabilities and operations of the insurer, including a review of the plan or revised plan for risk-based capital of the insurer, as he or she determines are necessary; and

     (b) If the Commissioner performs an examination or analysis pursuant to paragraph (a) and determines that corrective action is necessary, issue a corrective order that specifies such corrective action as he or she determines is necessary.

     2. In determining whether any corrective action is necessary, the Commissioner will take into account such factors with respect to the insurer as the Commissioner determines are relevant, based on the examination or analysis, or both, conducted by the Commissioner of the assets, liabilities and operation of the insurer, including, but not limited to, the results of any sensitivity tests undertaken pursuant to the instructions relating to risk-based capital.

     (Added to NAC by Comm’r of Insurance by R088-97, eff. 3-19-98)