1. Every society transacting business in this state shall annually, on or before the
first day of March, unless for cause shown the time has been extended by the Commissioner,
file with the Commissioner a true statement of its financial condition, transactions
and affairs for the preceding calendar year and pay a filing fee of $25. The statement must be in such general form and context as approved by the National
Association of Insurance Commissioners for fraternal benefit societies and as supplemented
by additional information required by the Commissioner. The statement must include separately from the society's admitted assets all real
or personal property owned, held or leased by the society for the purposes of its
nonprofit institutions operated pursuant to NRS 695A.090.
2. A synopsis of its annual statement providing an explanation of the facts concerning
the condition of the society thereby disclosed must be printed and mailed to each
benefit member of the society not later than June 1 of each year, or, in lieu thereof,
the synopsis may be published in the society's official publication established pursuant
to NRS 695A.120.
3. As a part of the annual statement required by subsection 1, each society shall,
on or before the first day of March, file with the Commissioner a valuation of its
certificates in force on the preceding December 31. The Commissioner may, in the discretion of the Commissioner for cause shown, extend
the time for filing the valuation for not more than 2 calendar months. The valuation must be done pursuant to NRS 695A.490. The valuation and supporting data must be certified by a qualified actuary or, at
the expense of the society, verified by the actuary of the department of insurance
of the state in which the society is domiciled.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.