; and (II) meets or exceeds any minimum capital standards for an insurance savings and loan holding company promulgated by the Board under section 171 of the Financial Stability Act of 2010 ( 12 U.S.C. 5371 ). (iii) Corrective action plan (I) In general If, based upon a capital report submitted pursuant to paragraph (2)(D)(iv), an insurance savings and loan holding company is not in compliance with any applicable minimum capital standards, the Board shall provide a notice of noncompliance to the company and require the company to submit, within 45 days of the receipt of such notice, a plan to restore the capital of the company to a level that meets the applicable minimum standards not later than the later of— (aa) 1 year after the date on which the plan is submitted; or (bb) a date determined by the Board. (II) Failure to submit plan If a company fails to submit a required capital restoration plan, or fails to restore capital to applicable minimum standards within the time period specified in the plan, the Board, following notice and an opportunity for a hearing, may prohibit the application of clause (ii) to the company until the later of— (aa) the date on which the company has met applicable minimum capital standards for 2 calendar years; or (bb) a date determined by the Board. . (c) Administration and enforcement Section 10(g) of the Home Owners’ Loan Act ( 12 U.S.C. 1467a(g) ) is amended— (1) in paragraph (1), by inserting In issuing any regulation, order, or supervisory guidance applicable to an insurance savings and loan holding company, including a regulation, order, or guidance related to capital, stress testing, and cybersecurity, the Board shall tailor such regulation, order, or guidance to the risks and activities of the business of insurance and shall consult with State insurance authorities to ensure that the regulation, order, or guidance does not duplicate or conflict with State insurance requirements. after the period at the end