(a) Any foreign insurer shall, upon the written request of the Commissioner, submit to the Commissioner an RBC Report as of the end of the calendar year just ended the later of:
(1) the date an RBC Report is required to be filed by a domestic insurer under this chapter; or
(2) fifteen days after the request is received by the foreign insurer.
(b) Any foreign insurer at the written request of the Commissioner, shall promptly submit to the Commissioner a copy of any RBC Plan that is filed with the insurance Commissioner of any other state.
(c) If a Company Action Level Event, Regulatory Action Level Event or Authorized Control Level Event occurs with respect to any foreign insurer as determined under the RBC statute applicable in the state of domicile of the insurer or, if no RBC statute is in force in that state, under the provisions of this chapter, or if the insurance commissioner of the state of domicile of the foreign insurer fails to require the foreign insurer to file an RBC Plan in the manner specified under that state’s RBC statute or, if no RBC statute is in force in that state, under section 473, the Commissioner may require the foreign insurer to file an RBC Plan with the Commissioner. In such event, the failure of the foreign insurer to file an RBC Plan with the Commissioner is ground to order the insurer to cease writing new insurance business in the Territory. In addition, the Commissioner may impose an appropriate fine on the foreign insurer for failure to submit an RBC plan upon request.
(d) If a Mandatory Control Level Event occurs with respect to any foreign insurer, and no domiciliary receiver has been appointed under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer, the Commissioner may make application to the court of the Virgin Islands as permitted under chapter 51 of this title regarding the liquidation of property of foreign insurers found in the Territory, and the occurrence of the Mandatory Control Level Event is considered adequate grounds for the application.