1. (a) This section applies to the following:

   1. (1) A life insurer.
   2. (2) A fraternal benefit society.

2. (b) An insurer's RBC must be determined in accordance with the formula set forth in the RBC instructions. The formula must take into account (and may adjust for the covariance between):

   1. (1) the risk with respect to the insurer's assets;
   2. (2) the risk of adverse insurance experience with respect to the insurer's liabilities and obligations;
   3. (3) the interest rate risk with respect to the insurer's business; and

   4. (4) all other business risks and such other relevant risks as are set forth in the RBC instructions;

      determined by applying the factors in the manner set forth in the RBC instructions.

As added by P.L.186-1996, SEC.1. Amended by P.L.276-2013, SEC.24.