NRS 695D.260 Annual report; financial statement; quarterly statement; administrative penalty for failure to file timely report or statement; extension of time; payment of premium tax and filing fee.

417 words·~2 min read·/nv/chapter-695d-plans-for-dental-care/695d-260·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Every organization for dental care shall file with the Commissioner on or before March 1 of each year a report covering its activities for the preceding calendar year. The report must be verified by at least two officers of the organization.

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

(a)A financial statement of the organization, including its balance sheet and receipts and disbursements for the preceding calendar year.

(b)Any material changes in the information given in the previous report.

(c)The number of members enrolled in that year, the number of members whose coverage has been terminated in that year and the total number of members at the end of the year.

(d)The costs of all goods, services and dental care provided that year.

(e)Any other information relating to the plan for dental care requested by the Commissioner.

3. Every organization for dental care shall file with the Commissioner annually an audited financial statement in accordance with the provisions of subsection 1 of NRS 680A.265 .

4. Every organization for dental care 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:

(a)Prepared in accordance with the instructions which are applicable to that form, including, without limitation, the required date of submission for the form; and

(b)Filed by electronic means.

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.

7. The organization shall pay the Department of Taxation the annual tax, any penalty for nonpayment or delinquent payment of the tax imposed in chapter 680B of NRS, and a filing fee of $25 to the Commissioner, at the time the annual report is filed.