A. A licensee shall have the right to a confidential hearing, on a recordbefore the Commission, at which the licensee may challenge any determinationor action by the Commission, upon:
1. Notification to a licensee by the Commission of an Adjusted RBC Report;
2. Notification to a licensee by the Commission that (i) the licensee's RBCPlan or Revised RBC Plan is unsatisfactory and (ii) such notificationconstitutes a Regulatory Action Level Event with respect to such licensee;
3. Notification to a licensee by the Commission that the licensee has failedto adhere to its RBC Plan or Revised RBC Plan and that such failure has asubstantial adverse effect on the ability of the licensee to eliminate theCompany Action Level Event with respect to the licensee in accordance withits RBC Plan or Revised RBC Plan; or
4. Notification to a licensee by the Commission of a Corrective Order withrespect to the licensee.
B. The licensee shall notify the Commission of its request for a hearingwithin five days after the notification by the Commission under subdivision1, 2, 3 or 4 of subsection A. Upon receipt of the licensee's request for ahearing, the Commission shall set a date for the hearing, which date shall beno less than ten nor more than thirty days after the date of the licensee'srequest.
A. A licensee shall have the right to a confidential hearing, on a recordbefore the Commission, at which the licensee may challenge any determinationor action by the Commission, upon:
1. Notification to a licensee by the Commission of an Adjusted RBC Report;
2. Notification to a licensee by the Commission that (i) the licensee's RBCPlan or Revised RBC Plan is unsatisfactory and (ii) such notificationconstitutes a Regulatory Action Level Event with respect to such licensee;
3. Notification to a licensee by the Commission that the licensee has failedto adhere to its RBC Plan or Revised RBC Plan and that such failure has asubstantial adverse effect on the ability of the licensee to eliminate theCompany Action Level Event with respect to the licensee in accordance withits RBC Plan or Revised RBC Plan; or
4. Notification to a licensee by the Commission of a Corrective Order withrespect to the licensee.
B. The licensee shall notify the Commission of its request for a hearingwithin five days after the notification by the Commission under subdivision1, 2, 3 or 4 of subsection A. Upon receipt of the licensee's request for ahearing, the Commission shall set a date for the hearing, which date shall beno less than ten nor more than thirty days after the date of the licensee'srequest.
A. A licensee shall have the right to a confidential hearing, on a recordbefore the Commission, at which the licensee may challenge any determinationor action by the Commission, upon:
1. Notification to a licensee by the Commission of an Adjusted RBC Report;
2. Notification to a licensee by the Commission that (i) the licensee's RBCPlan or Revised RBC Plan is unsatisfactory and (ii) such notificationconstitutes a Regulatory Action Level Event with respect to such licensee;
3. Notification to a licensee by the Commission that the licensee has failedto adhere to its RBC Plan or Revised RBC Plan and that such failure has asubstantial adverse effect on the ability of the licensee to eliminate theCompany Action Level Event with respect to the licensee in accordance withits RBC Plan or Revised RBC Plan; or
4. Notification to a licensee by the Commission of a Corrective Order withrespect to the licensee.
B. The licensee shall notify the Commission of its request for a hearingwithin five days after the notification by the Commission under subdivision1, 2, 3 or 4 of subsection A. Upon receipt of the licensee's request for ahearing, the Commission shall set a date for the hearing, which date shall beno less than ten nor more than thirty days after the date of the licensee'srequest.
