Nevada Revised Statutes Title 57. Insurance § 695C.210. Annual report of financial condition and financial statement; quarterly statement; administrative penalty for failure to file timely report or statement; extension of time

1. Every health maintenance organization shall file with the Commissioner on or before March 1 of each year a report showing its financial condition on the last day of the preceding calendar year. The report must be verified by at least two principal officers of the organization.

2. The report must be on forms prescribed by the Commissioner and must include:

3. Every health maintenance organization shall file with the Commissioner annually an audited financial statement of the organization in accordance with the provisions of subsection 1 of NRS 680A.265. Upon written request, the Commissioner may grant a 30-day extension.

4. Every health maintenance organization shall file with the Commissioner and the National Association of Insurance Commissioners a quarterly statement in the form most recently adopted by the National Association of Insurance Commissioners for that type of insurer. The quarterly statement must be:

5. If an organization fails to file timely a report or financial statement required by this section, it shall pay an administrative penalty of $100 per day until the report or statement is filed, except that the total penalty must not exceed $3,000. The Attorney General shall recover the penalty in the name of the State of Nevada.

6. The Commissioner may grant a reasonable extension of time for filing any report or statement required by this section, if the request for an extension is submitted in writing and shows good cause.