20:06:09:51Criteria for requiring the group capital calculation.

Notwithstanding an exemption granted under § 20:06:09:49, the lead state director or commissioner may require at any time the ultimate controlling person to file an annual group capital calculation, completed in accordance with the National Association of Insurance Commissioners Group Capital Calculation Instructions, 2022 edition, if any of the following criteria are met: (1) Any insurer within the insurance holding company system is in a Risk-Based Capital action level event as set forth in §§ 20:06:36:07, 20:06:36:13, 20:06:36:17, and 20:06:36:19, inclusive, or a similar standard for a non-U.S. insurer; (2) Any insurer within the insurance holding company system meets one or more of the standards of an insurer deemed to be in hazardous financial condition as set forth in § 20:06:23:02; or (3) Any insurer within the insurance holding company system otherwise exhibits qualities of a troubled insurer as determined by the lead state director or commissioner based on unique circumstances.

Source: 50 SDR 157, effective July 1, 2024.