Section 507-B. Authorized Control Level Event.--In the event of an authorized control level event, the department shall:
(1) Take all action required under section 506-B for a regulatory action level event.
(2) If the commissioner deems it to be in the best interest of the policyholders and creditors of the health organization and the public, take action necessary to place the health organization under regulatory control under Article V. The authorized control level event shall be sufficient grounds to place the health organization under regulatory control under Article V.
(507-B added June 22, 2000, P.L.457, No.62)