Section 21.14.080 - Hearings(a) An insurer may request a hearing to challenge an action of the director or request a stay of the director's action as provided under AS 21.06.180 - 21.06.240.(b) An insurer shall request a hearing under (a) of this section within 15 days after the director's notice of(1) an adjusted risk based capital report under AS 21.14.010;(2) an unsatisfactory risk based capital plan or revised risk based capital plan;(3) a regulatory action level event based on an unsatisfactory risk based capital plan or revised risk based capital plan;(4) the insurer's failure to adhere to its risk based capital plan or revised risk based capital plan and the failure has a substantial adverse effect on the insurer's ability to eliminate the company action level event in accordance with its plan or revised plan; or(5) a corrective order applicable to the insurer.Amended by SLA 2015, ch. 34,sec. 8, eff. 7/1/2015.