§431:3-410  Foreign insurers.  (a)  Any
foreign insurer, upon the written request of the commissioner, shall submit to
the commissioner a risk-based capital report as of the end of the calendar year
just ended by the later of:



(1)  The date a risk-based capital report would be
required to be filed by a domestic insurer under this part; or



(2)  Fifteen days after the request is received by the
foreign insurer.



Any foreign insurer, at the written request of the
commissioner, shall promptly submit to the commissioner a copy of any
risk-based capital plan that is filed with the insurance commissioner of any
other state.



(b)  In the event of a company action level
event, regulatory action level event, or authorized control level event with
respect to any foreign insurer as determined under the risk-based capital
statute applicable in the state of domicile of the insurer, or if no risk-based
capital provision is in force in that state, under this part, if the insurance
commissioner of the state of domicile of the foreign insurer fails to require
the foreign insurer to file a risk-based capital plan in the manner specified
under the risk-based capital law of that state, or if no risk-based capital
provision is in force in that state, under section 431:3-403, the commissioner
may require the foreign insurer to file a risk-based capital plan with the
commissioner. In this event, the failure of the foreign insurer to file a
risk-based capital plan with the commissioner shall be grounds to order the
insurer to cease and desist from writing new insurance business in this State.



(c)  In the event of a mandatory control level
event with respect to any foreign insurer, if no domiciliary receiver has been
appointed with respect to the foreign insurer under the rehabilitation and
liquidation statute applicable in the state of domicile of the foreign insurer,
the commissioner may make application to the circuit court of the first
judicial circuit of this State under article 15 with respect to the liquidation
of property of foreign insurers found in this State, and the occurrence of the
mandatory control level event shall be considered adequate grounds for the
application. [L 1994, c 190, pt of §1; am L 1995, c 61, §2 as superseded by c
232, §4; am L 1997, c 75, §13; am L 1999, c 128, §2]