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Office of the Revisor of Statutes

HF 2258 House Long Description

hf2258CHAPTER 285: Effective date variousTHIRD ENGROSSMENTHealth organization risk-based capital requirements established, +minimum standard of valuation for health insurance provided, model +regulations enacted, and loss revenue certifications regulated.ARTICLE 1�RISK-BASED CAPITAL FOR HEALTH ORGANIZATIONSSection 1: Related terms defined.Sec. 2: RBC reporting regulations provided.Sec. 3: Company action level event regulations established.Sec. 4: Regulatory action level event regulations established.Sec. 5: Authorized control level event regulations established.Sec. 6: Manditory control level event regulations established.Sec. 7: Hearing regulations established.Sec. 8: Access to and use of RBC information regulations established.Sec. 9: Supplemental provisions provided.Sec. 10: Foreign health organization RBC report submission required.Sec. 11: Immunity provided.Sec. 12: Notification required.ARTICLE 2�MINIMUM STANDARD OF VALUATION FOR HEALTH INSURANCESection 1: Purpose and scope provided.Sec. 2: Glossary of technical terms used provided.Sec. 3: Categories of reserves provided.Sec. 4: Claim reserves required.Sec. 5: Premium reserves required.Sec. 6: Contract reserves required.Sec. 7: Minimum standards for contract reserves provided.Sec. 8: Reinsurance determination procedures established.Sec. 9: Specific standards for morbidity, interest, and mortality +provided.ARTICLE 3�MISCELLANEOUSSection 1: Loss reserve certification regulations modified.Sec. 2: Risk-based capital requirement instituted.Sec. 3: Application review technical reference added.Sec. 4: Required deposit regulations modified.Sec. 5: Definition of guaranteeing organization modified.Sec. 6: Initial net worth requirement modified.Sec. 7: Technical change.Sec. 8: Technical change.Sec. 9: Guaranteeing organization use requirements modified.Sec. 10: Revisor instruction.Sec. 11: Repealer.ARTICLE 4�SECURITIES REGULATION TECHNICAL CHANGESSections 1-3: Technical changes. Sec. 4: Effective date.AE