An insurer or health organization may challenge any determination or action by the director by requesting the director for a confidential division hearing within five days after notice to an insurer or health organization by the director for one of the following reasons:

1. (1) Notice of an adjusted RBC report:
2. (2) Notice that the insurer's or health organization's RBC plan or revised RBC plan is unsatisfactory and the notice constitutes a regulatory action level event;
3. (3) Notice that the insurer or health organization has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the insurer or health organization to eliminate the company action level event in accordance with its RBC plan or revised RBC plan; or

4. (4) Notice of a corrective order.

   Upon receipt of the insurer's or health organization's request for a hearing, the director shall set a date for the hearing which is at least 10 but not more than 30 days after the date of the insurer's or health organization's request.

Source: 23 SDR 228, effective July 3, 1997; 41 SDR 93, effective December 3, 2014.

General Authority: SDCL 58-4-48.

Law Implemented: SDCL 58-4-48.

Prior versions effective: 1997-07-03.