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NRS 695C.145

Accounting principles required for certain reports and transactions; health maintenance organization subject to requirements for certain insurers

Known as the Nevada Health Maintenance Organization Act

The act spans §§ 695–695 (127 sections).

(Added to NRS by 1991, 2036)

1. A health maintenance organization shall use accounting principles that are recognized by the laws of this state or approved by the Commissioner for:

(a) All financial reports;

(b) The accounting of investments and deposits; and

(c) Transactions between affiliates and holding companies.

2. A health maintenance organization is subject to the requirements for insurers for:

(a) Administrators, agents, brokers and solicitors, pursuant to chapter 683A of NRS;

(b) Borrowing, pursuant to NRS 693A.180;

(c) Impairment of capital, surplus or assets, pursuant to NRS 693A.260, 693A.270 and 693A.280;

(d) Management and agency contracts executed on or after January 1, 1992; and

(e) Officers, pursuant to NRS 693A.120 and 693A.130.

3. A domestic health maintenance organization is subject to the requirements for insurers for corporations pursuant to NRS 693A.040 to 693A.070, inclusive.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.