§ 24-212. Excess surplus; rate reduction.

Latest version.

(a) Determination. -- If the Society requests a rate increase of more than 7.5% and, at the time of the rate filing, the Society's surplus is more than 500% of its authorized control level risk-based capital, the Commissioner may determine whether the Society's surplus is excessive.

(b) Reduction of rates. -- If, after a hearing, the Commissioner determines that the surplus is excessive, the Commissioner may order the rates filed to be reduced.

HISTORY: 2004 Sp. Sess., ch. 5, § 1; 2005, ch. 1.

                    
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