As used in this chapter, "authorized control level event" means any of the following events:

1. (1) The filing of an RBC report by an insurer that indicates that the insurer's total adjusted capital is:

   1. (A) greater than or equal to its mandatory control level RBC; but
   2. (B) less than its authorized control level RBC.

2. (2) The notification by the commissioner to the insurer of an adjusted RBC report that indicates that the insurer's total adjusted capital is:

   1. (A) greater than or equal to its mandatory control level RBC; but

   2. (B) less than its authorized control level RBC;

      unless the insurer challenges the adjusted RBC report under section 44 of this chapter.

3. (3) Notification by the commissioner to the insurer that the commissioner has, after a hearing under section 44 of this chapter, rejected the insurer's challenge to an adjusted RBC report.
4. (4) The failure of the insurer to respond, in a manner satisfactory to the commissioner, to a corrective order, unless the insurer has challenged the corrective order under section 44 of this chapter.

5. (5) The failure of the insurer to respond, in a manner satisfactory to the commissioner, to a corrective order if, after a challenge and a hearing under section 44 of this chapter, the commissioner has:

   1. (A) rejected the challenge; or
   2. (B) modified the corrective order.

As added by P.L.186-1996, SEC.1.