Section 695F.100 - Application: Contents; certification of financial statements1. In addition to the documents required by NRS 695F.110, an application for a certificate of authority to operate an organization must include: (a) All documents describing the financing and ownership of the organization, including financial statements and copies of any contracts made or to be made between the organization and any: (1) Member of the governing board or committee of the organization;(2) Corporate officers of the organization, if the organization is a corporation;(3) Partners of the organization, if the organization is a partnership; and(4) Providers associated or to be associated with the organization, regarding the provision of a limited health service to enrollees.(b) A description of the proposed geographic area of service for the organization.(c) A proposed plan of operation for the first 3 years of operation based on projected total income and projected total expenses. The amounts set forth for the costs of a limited health service and the use of that service in the proposed plan must be certified by a qualified actuary.(d) Pro forma balance sheets and statements of earnings, retained earnings and cash flow for each of the 3 years of the proposed plan of operation.(e) A separate schedule setting forth all factors and underlying assumptions regarding the proposed plan of operation.(f) If the organization has 3 years or more of operational experience, financial statements demonstrating that the organization has realized a net financial gain, after taxes, from its underwriting activities and the investment of its income, during 3 or more recent years. The Commissioner may waive this requirement if the organization is a subsidiary of an insurer licensed in this State.2. All financial statements required by this section must be certified by an independent certified public accountant.Nev. Admin. Code § 695F.100
Added to NAC by Comm'r of Insurance, eff. 2-3-97NRS 679B.130, 695F.110, 695F.300