NAC695B.310. Annual statement of condition and affairs; financial statements; quarterly statement of domestic nonprofit organization; extension of time for filing statement; failure to file statement.

     1. As a condition of doing business in this State, each nonprofit corporation which maintains and operates a hospital, medical or dental service plan must file with the Commissioner an annual statement required by NRS 695B.160 that:

     (a) Conforms to the format prescribed by the National Association of Insurance Commissioners in the Annual Statement Instructions for Health and the Accounting Practices and Procedures Manual, which have been adopted by reference in NAC 679B.033;

     (b) Contains exhibits and schedules that follow the specifications developed by the National Association of Insurance Commissioners; and

     (c) Contains any other information relating to the nonprofit corporation required by the Commissioner.

     2. Information from the annual statement of the nonprofit corporation must be filed:

     (a) Pursuant to the specifications adopted by the National Association of Insurance Commissioners for filing information in an electronic format;

     (b) At the central office of the National Association of Insurance Commissioners, 2301 McGee Street, Suite 800, Kansas City, Missouri 64108-2662; and

     (c) On or before March 1 of each year.

     3. If a foreign or alien nonprofit corporation files a statement in an electronic format with the National Association of Insurance Commissioners, that statement will be deemed to have been filed with the Commissioner if:

     (a) The foreign or alien nonprofit corporation submits an affidavit, a jurat page or a copy of the jurat page to the Commissioner indicating that the statement has been so filed. If the nonprofit corporation submits a jurat page, the jurat page must:

          (1) Conform to the format prescribed by the National Association of Insurance Commissioners in the Annual Statement Instructions for Health, which has been adopted by reference in NAC 679B.033; and

          (2) Be executed by a notarial officer pursuant to NRS 240.1655 and 240.167.

     (b) The affidavit, jurat page or copy of the jurat page is accompanied by the applicable fees set forth in NRS 680B.010.

     4. An annual statement required by NRS 695B.160 to be filed with the Commissioner by a nonprofit corporation must be on the current version of the Annual Statement Blanks for Health adopted by the National Association of Insurance Commissioners, which has been adopted by reference in NAC 679B.033. Each nonprofit corporation shall, in preparing the statement, follow the Annual Statement Instructions for Health adopted by the National Association of Insurance Commissioners, which accompanies the Annual Statement Blanks for Health.

     5. If necessary to determine the financial condition of a foreign or alien nonprofit corporation or the fulfillment of contractual obligations or compliance with law by a foreign or alien nonprofit corporation, the Commissioner may require the foreign or alien nonprofit corporation to file a financial statement more frequently than annually. Such a statement must be:

     (a) Filed on the current form adopted by the National Association of Insurance Commissioners for the type of nonprofit corporation filing;

     (b) Completed in accordance with the instructions accompanying that form; and

     (c) Filed with the National Association of Insurance Commissioners in an electronic format.

     6. Each domestic nonprofit corporation shall file a quarterly statement with the Commissioner. A quarterly statement must be:

     (a) Filed on the current form adopted by the National Association of Insurance Commissioners for the type of nonprofit corporation filing;

     (b) Completed in accordance with the instructions accompanying that form; and

     (c) Filed with the National Association of Insurance Commissioners in an electronic format.

     7. The audited financial statement required to be filed pursuant to NRS 680A.265 is a separate document from the annual statement required to be filed pursuant to NRS 695B.160. Each nonprofit corporation filing the audited financial statement shall follow the Annual Statement Instructions for Health adopted by the National Association of Insurance Commissioners. Consolidated statements for nonprofit corporations that are members of an insurance holding company are not acceptable. For the purposes of paragraph (d) of subsection 2 of NRS 695B.110, the term “annual report” means the audited financial statement required to be filed pursuant to NRS 680A.265.

     8. The Commissioner may grant a reasonable extension of time for filing the annual statement required by NRS 695B.160 or the audited financial statement required by NRS 680A.265 if the request for an extension is submitted in writing and in advance and shows good cause.

     9. The Commissioner will, if appropriate, take disciplinary action pursuant to the applicable provisions of this chapter or chapter 695B of NRS against a nonprofit corporation which fails to file its annual statement or audited financial statement on the prescribed forms, in the prescribed format or by the prescribed date.

     10. As used in this section, “jurat page” means a written declaration by a notarial officer that the signer of a document signed the document in the presence of the notarial officer and swore to or affirmed that the statements in the document are true.

     (Added to NAC by Comm’r of Insurance by R247-03, eff. 11-12-2004)