N.M. Admin. Code § 13.10.11.14

Current through Register Vol. 35, No. 21, November 5, 2024

Section 13.10.11.14 - RECORDS AND REPORTS

A. The fiscal year of the alliance shall be determined by the board.

B. The board of directors shall conduct periodic audits to assure the general accuracy of the financial data submitted to the alliance pursuant to Section 59A-56-11 NMSA 1978. The board shall cause the alliance to have an annual audit of its financial statements by an independent certified public accountant.

C. The alliance shall be subject to and responsible for examination by the superintendent. Not later than March 1 of each year, the board of directors shall submit to the superintendent an audited financial report for the preceding calendar year in a form approved by the superintendent. The report shall also review the activities of the alliance during the preceding calendar year.

D. All policy forms issued through the alliance shall conform to the requirements of the act and must be filed with and approved by the superintendent before their use.

N.M. Admin. Code § 13.10.11.14

13.10.11.14 NMAC - N, 6-1-01