Nev. Admin. Code § 695C.330 - Provider-sponsored organization: Determination of financial condition

1. To determine its financial condition, fulfillment of its contractual obligations and compliance with law, the Commissioner will, as often as he or she deems advisable, examine the affairs, transactions, accounts, records and assets of a provider-sponsored organization and of any person as to any matter relevant to the financial affairs of the provider-sponsored organization or to the examination. Except as otherwise provided in the Nevada Insurance Code, the Commissioner will examine each provider-sponsored organization at least once every 3 years.

2. The Commissioner will examine each provider-sponsored organization applying for an initial certificate of authority.

3. In lieu of making his or her own examination, the Commissioner may, in his or her discretion, accept a full report of the last recent examination of a foreign or alien provider-sponsored organization, certified to by the supervisory officer of insurance of another state.

4. To the extent that it is practical, the examination of a foreign or alien provider-sponsored organization must be made in cooperation with the insurance supervisory officers of other states in which the provider-sponsored organization transacts business.

Notes

Nev. Admin. Code § 695C.330

Added to NAC by Comm'r of Insurance by R148-99, eff. 1-27-2000

NRS 679B.130, 695C.275