§431:3-413  Phase-in provision.  (a) For risk-based capital reports required to be filed by life or health insurerswith respect to 1994, the following requirements shall apply in lieu ofsections 431:3-403, 431:3-404, 431:3-405, and 431:3-406:

(1)  In the event of a company action level event withrespect to a domestic insurer, the commissioner shall take no regulatory actionhereunder;

(2)  In the event of a regulatory action level eventunder section 431:3-404(a)(1), (2), or (3), the commissioner shall take theactions required under section 431:3-403;

(3)  In the event of a regulatory action level eventunder section 431:3-404(a)(4), (5), (6), (7), (8), or (9), or an authorizedcontrol level event, the commissioner shall take the actions required undersection 431:3-404 with respect to the insurer; and

(4)  In the event of a mandatory control level eventwith respect to an insurer, the commissioner shall take the actions requiredunder section 431:3-405 with respect to the insurer.

(b)  For risk-based capital reports required tobe filed by property and casualty insurers with respect to 1997, the followingrequirements shall apply in lieu of sections 431:3-403, 431:3-404, 431:3-405,and 431:3-406:

(1)  In the event of a company action level event withrespect to a domestic insurer, the commissioner shall take no regulatory actionhereunder;

(2)  In the event of a regulatory action level eventunder section 431:3-404(a)(1), (2), or (3), the commissioner shall take theactions required under section 431:3‑403;

(3)  In the event of a regulatory action level eventunder section 431:3-404(a)(4), (5), (6), (7), (8), or (9), or an authorizedcontrol level event, the commissioner shall take the actions required undersection 431:3-404 with respect to the insurer; and

(4)  In the event of a mandatory control level eventwith respect to an insurer, the commissioner shall take the actions requiredunder section 431:3-405 with respect to the insurer. [L 1994, c 190, pt of §1;am L 1995, c 61, §2 as superseded by c 232, §4; am L 1997, c 75, §14; am L1999, c 128, §2]