31A-17-609. Alternate adjusted capital.
(1) Except as provided in Section, an insurer or health organization licensed under,,,, and, shall maintain total adjusted capital as defined in Sectionin an amount equal to the greater of: 31A-17-602 Chapter 5, Domestic Stock and Mutual Insurance Corporations Chapter 7, Nonprofit Health Service Insurance Corporations Chapter 8, Health Maintenance Organizations and Limited Health Plans Chapter 9, Insurance Fraternals Chapter 14, Foreign Insurers 31A-1-301 175% of the minimum required capital, or of the minimum permanent surplus in the case of nonassessable mutuals, required by Section,,,, or; or 31A-5-211 31A-7-201 31A-8-209 31A-9-209 31A-14-205 the net total of: 10% of net insurance premiums earned during the year; plus 5% of the admitted value of common stocks and real estate; plus 2% of the admitted value of all other invested assets, exclusive of cash deposits, short-term investments, policy loans, and premium notes; less the amount of any asset valuation reserve being maintained by the insurer or health organization, but not to exceed the sum of Subsectionsand. (1)(b)(ii) (iii)
(2) As used in Subsection, "premiums earned" means premiums and other consideration earned for insurance in the 12-month period ending on the date the calculation is made. (1)(b)
(3) The commissioner may consider an insurer or health organization to be financially hazardous under Subsection, if the insurer or health organization does not have qualified assets in an aggregate value exceeding the sum of the insurer's or health organization's liabilities and the total adjusted capital required by Subsection. 31A-27a-207(1)(i) (1)
(4) The commissioner shall consider an insurer or health organization to be financially hazardous under Subsectionif the insurer or health organization does not have qualified assets in an aggregate value exceeding the sum of the insurer's or health organization's liabilities and 70% of the total adjusted capital required by Subsection. 31A-27a-207(1)(i) (1)