§ 521f-11

521F.11 Foreign health organizations. 1. A foreign health organization, upon the written request of the commissioner, shall submit to the commissioner a risk-based capital report for the previous calendar year justended by the later of the following: a. The filing date.b. Fifteen days after the request is received by the foreign health organization.2. A foreign health organization, upon the written request of the commissioner, shall promptly submit to the commissioner a copy of any risk-based capital plan that is filed withthe insurance commissioner of any other state. 3. The commissioner may require a foreign health organization to file a risk-based capital plan under either of the following circumstances: a. In the event of a company-action-level event, regulatory-action-level event, or authorized-control-level event as determined under the risk-based capital statute applicablein the state of domicile of the foreign health organization, or, if no risk-based capital statuteis in force in that state, under this chapter. b. The insurance commissioner of the state of domicile of the foreign health organization fails to require the foreign health organization to file a risk-based

orce in that state, under this chapter. b. The insurance commissioner of the state of domicile of the foreign health organization fails to require the foreign health organization to file a risk-based capital plan in the mannerspecified under that state’s risk-based capital statute, or, if no risk-based capital statute is inforce in that state, pursuant to this chapter. 4. The failure of the foreign health organization to file a risk-based capital plan is sufficient grounds to order the health organization to cease and desist from writing new insurancebusiness in this state. 5. In the event of a mandatory-control-level event with respect to a foreign health organization, if a domiciliary receiver has not been appointed with respect to the foreignhealth organization under the rehabilitation and liquidation statute applicable in the stateof domicile of the foreign health organization, the commissioner may make applicationto the district court as permitted under chapter 507C with respect to the liquidation ofproperty of foreign health organizations found in this state, and the occurrence of themandatory-control-level event shall be considered adequate grounds for the application.

ect to the liquidation ofproperty of foreign health organizations found in this state, and the occurrence of themandatory-control-level event shall be considered adequate grounds for the application. 2000 Acts, ch 1050, §11 Sat Dec 23 00:53:13 2023 Iowa Code 2024, Section 521F.11 (15, 0)