{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6941","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6941","heading":"Regulatory action level event - Definition - Duties of","body":"Insurance Commissioner - Challenge to adjusted RBC report or revised\n\nRBC plan - Use of actuaries, investment experts and other\n\nconsultants.\n\nA. “Regulatory Action Level Event” means, with respect to a\n\nhealth maintenance organization, any of the following events:\n\n1. The filing of an RBC report by the health maintenance\n\norganization that indicates that the health maintenance\n\norganization’s total adjusted capital is greater than or equal to\n\nits Authorized Control Level RBC but less than its Regulatory Action\n\nLevel RBC;\n\n2. Notification by the Commissioner to a health maintenance\n\norganization of an adjusted RBC report that indicates a Regulatory\n\nAction Level Event specified in paragraph 1 of this subsection,\n\nprovided the health maintenance organization does not challenge the\n\nadjusted RBC report under Section 44 of this act;\n\n3. If, pursuant to the provisions of Section 44 of this act,\n\nthe health maintenance organization challenges an adjusted RBC\n\nreport that indicates a Regulatory Action Level Event specified\n\nevent in paragraph 1 of this subsection, the notification by the\n\nCommissioner to the health maintenance organization that the\n\nCommissioner has, after a hearing, rejected the health maintenance\n\norganization’s challenge;\n\n4. The failure of the health maintenance organization to file\n\nan RBC report by the filing date, unless the health maintenance\n\norganization has provided an explanation for the failure that is\n\nsatisfactory to the Commissioner and has corrected the failure\n\nwithin ten (10) days after the filing date;\n\n5. The failure of the health maintenance organization to submit\n\nan RBC plan to the Commissioner within the time period provided in\n\nsubsection C of Section 40 of this act;\n\n6. Notification by the Commissioner to the health maintenance\n\norganization that:\n\na. the RBC plan or revised RBC plan submitted by the\n\nhealth maintenance organization is, in the judgment of\n\nthe Commissioner, unsatisfactory, and\n\nb. notification constitutes a Regulatory Action Level\n\nEvent with respect to the health maintenance\n\norganization, provided the health maintenance\n\norganization has not challenged the determination\n\nunder Section 44 of this act;\n\n7. If, pursuant to the provisions of Section 44 of this act,\n\nthe health maintenance organization challenges a determination by\n\nthe Commissioner under paragraph 6 of this subsection, the\n\nnotification by the Commissioner to the health maintenance\n\norganization that the Commissioner has, after a hearing, rejected\n\nthe challenge;\n\n8. Notification by the Commissioner to the health maintenance\n\norganization that the health maintenance organization has failed to\n\nadhere to its RBC plan or revised RBC plan, but only if the failure\n\nhas a substantial adverse effect on the ability of the health\n\nmaintenance organization to eliminate the Company Action Level Event\n\nin accordance with its RBC plan or revised RBC plan and the\n\nCommissioner has so stated in the notification, provided the health\n\nmaintenance organization has not challenged the determination under\n\nSection 44 of this act; or\n\n9. If, pursuant to the provisions of Section 44 of this act,\n\nthe health maintenance organization challenges a determination by\n\nthe Commissioner under paragraph 8 of this subsection, the\n\nnotification by the Commissioner to the health maintenance\n\norganization that the Commissioner has, after a hearing, rejected\n\nthe challenge.\n\nB. In the event of a Regulatory Action Level Event the\n\nCommissioner shall:\n\n1. Require the health maintenance organization to prepare and\n\nsubmit an RBC plan or, if applicable, a revised RBC plan;\n\n2. Perform such examination or analysis of the assets,\n\nliabilities and operations of the health maintenance organization as\n\nthe Commissioner deems necessary, including a review of the HMO’s\n\nRBC plan or revised RBC plan; and\n\n3. Subsequent to the examination or analysis, issue a\nRequire the health maintenance organization to prepare and\n\nsubmit an RBC plan or, if applicable, a revised RBC plan;\n\n2. Perform such examination or analysis of the assets,\n\nliabilities and operations of the health maintenance organization as\n\nthe Commissioner deems necessary, including a review of the HMO’s\n\nRBC plan or revised RBC plan; and\n\n3. Subsequent to the examination or analysis, issue a\n\ncorrective order specifying such corrective actions as the\n\nCommissioner shall determine are required.\n\nC. In determining corrective actions, the Commissioner may take\n\ninto account factors the Commissioner deems relevant with respect to\n\nthe health maintenance organization based upon the Commissioner’s\n\nexamination or analysis of the assets, liabilities and operations of\n\nthe health maintenance organization including, but not limited to,\n\nthe results of any sensitivity tests undertaken pursuant to the RBC\n\ninstructions. The RBC plan or revised RBC plan shall be submitted:\n\n1. Within forty-five (45) days after the occurrence of the\n\nRegulatory Action Level Event;\n\n2. If the health maintenance organization challenges an\n\nadjusted RBC report pursuant to the provisions of Section 44 of this\n\nact and the challenge is not frivolous, in the judgment of the\n\nCommissioner, within forty-five (45) days after the notification to\n\nthe health maintenance organization that the Commissioner has, after\n\na hearing, rejected the health maintenance organization’s challenge;\n\nor\n\n3. If the health maintenance organization challenges a revised\n\nRBC plan pursuant to the provisions of Section 44 of this act and\n\nthe challenge is not frivolous, in the judgment of the Commissioner,\n\nwithin forty-five (45) days after the notification to the health\n\nmaintenance organization that the Commissioner has, after a hearing,\n\nrejected the health maintenance organization’s challenge.\n\nD. The Commissioner may retain such actuaries, investment\n\nexperts and other consultants as may be necessary, in the judgment\n\nof the Commissioner, to review the health maintenance organization’s\n\nRBC plan or revised RBC plan, examine or analyze the assets,\n\nliabilities and operations, including contractual relationships of\n\nthe health maintenance organization, and formulate the corrective\n\norder with respect to the health maintenance organization. The\n\nfees, costs and expenses relating to consultants shall be borne by\n\nthe affected health maintenance organization or such other party as\n\ndirected by the Commissioner.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"8e6f4a3b315ad089488f50f6d6caa226d32c1e0dd279e1eb60f7735c4a8eac42","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6940","next":"us-ok/okla.-stat.-tit.-36-36-6942"},"notice":"GroundRules: Original legal text. Not legal advice."}