NAC616B.609. Audited statement of financial condition of association; exhibits and schedules.

     1. The audited statement of the financial condition of an association required by NRS 616B.404 must be:

     (a) Prepared in accordance with generally accepted accounting principles of the United States, stated in United States dollars, and must contain the footnotes and opinions of the independent certified public accountant who prepared it.

     (b) Accompanied by a statement, prepared by the independent certified public accountant who prepared the audited statement, certifying that the combined tangible net worth of all members of the association satisfies the requirements of NRS 616B.353 and that all members meet the financial requirements for membership that are established by law, the bylaws of the association or the underwriting plan of the association.

     2. In addition to the statements and schedules required by law, the association shall submit the following exhibits and schedules from the Annual Statement Blanks for Property/Casualty published by the National Association of Insurance Commissioners:

     (a) Exhibit 1 - Analysis of Nonadmitted Assets and Related Items;

     (b) Schedule A - Real Estate;

     (c) Schedule B - Mortgage Loans;

     (d) Schedule BA - Other Long-Term Invested Assets;

     (e) Schedule D - Bonds and Stocks;

     (f) Schedule DA - Short-Term Investments;

     (g) Schedule DB - Derivative Instruments; and

     (h) Schedule P - Parts 1 through 4 - Analysis of Losses and Loss Expenses.

Ê The exhibits must be prepared in accordance with the Annual Statement Instructions for Property/Casualty published by the National Association of Insurance Commissioners.

     (Added to NAC by Comm’r of Insurance, eff. 3-22-96; A by R112-04, 8-25-2004; R031-12, 9-14-2012)