Or. Admin. Code § 836-011-0530 - Mandatory Control Level Event

(1) "Mandatory Control Level Event" means any of the following events:

(a) The filing of an RBC report that indicates that the health care service contractor's total adjusted capital is less than its Mandatory Control Level RBC;

(b) Notification by the Director to the health care service contractor of an adjusted RBC report that indicates the event in subsection (a) of this section, if the health care service contractor does not challenge the adjusted RBC report under OAR 836-011-0535; or

(c) If, pursuant to OAR 836-011-0535, the health care service contractor challenges an adjusted RBC report that indicates the event in subsection (a) of this section, notification by the Director to the health care service contractor that the Director has, after a hearing, rejected the health care service contractor's challenge.

(2) In the event of a Mandatory Control Level Event, the Director shall take such actions as are necessary to place the health care service contractor under regulatory control under ORS 734.059 to 734.440. In that event, the Mandatory Control Level Event shall be deemed sufficient grounds for the Director to take action under 734.059 to 734.440, and the Director shall have the rights, powers and duties with respect to the health care service contractor as are set forth in 734.059 to 734.440. If the Director takes actions pursuant to an adjusted RBC report, the health care service contractor shall be entitled to the protections of 734.059 to 734.440. Notwithstanding the provisions of this rule, the Director may forego action for up to 90 days after the Mandatory Control Level Event if the Director finds there is a reasonable expectation that the Mandatory Control Level Event may be eliminated within the 90 day period.

Notes

Or. Admin. Code § 836-011-0530

ID 22-2002, f. & cert. ef. 11-27-02

Stat. Auth.: ORS 731.244, ORS 750.045

Stats. Implemented: ORS 731.574, ORS 733.210, ORS 750.045