Nevada Administrative Code
Chapter 695C - Health Maintenance Organizations; Provider-Sponsored Organizations
MISCELLANEOUS PROVISIONS FOR PROVIDER-SPONSORED ORGANIZATIONS
Section 695C.360 - Annual report of financial condition and financial statement; administrative penalty for failure to file report or statement; request for extension
Current through September 16, 2024
1. A provider-sponsored 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 provider-sponsored organization.
2. The report must be on forms prescribed by the Commissioner and must include:
3. A provider-sponsored organization shall file with the Commissioner annually an audited financial statement of the provider-sponsored organization prepared by an independent certified public accountant. The statement must cover the preceding 12-month period and must be filed with the Commissioner within 120 days after the end of the fiscal year of the provider-sponsored organization. Upon written request, the Commissioner may grant a 30-day extension.
4. If a provider-sponsored organization fails to file timely the 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.
5. The Commissioner may grant a reasonable extension of time for filing the report or financial statement required by this section if the request for an extension is submitted in writing and shows good cause.
Added to NAC by Comm'r of Insurance by R148-99, eff. 1-27-2000
NRS 679B.130, 695C.275