In the event of a regulatory action level event, the commissioner shall:

1. (a) Require the insurer to prepare and submit an RBC plan or, if applicable, a revised RBC plan;
2. (b) perform such examination or analysis as the commissioner deems necessary of the assets, liabilities and operations of the insurer including a review of its RBC plan or revised RBC plan; and
3. (c) subsequent to the examination or analysis, issue a corrective order specifying such actions as the commissioner determines are required.

L. 1994, ch. 138, § 12; July 1.