LegalFix
Sign In

NRS 695C.215 - Financial statement required to include report of net worth.

NV Rev Stat § 695C.215 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

A health maintenance organization which has been issued a certificate of authority pursuant to this chapter shall maintain and report on each financial statement filed with the Commissioner pursuant to NRS 695C.210 a net worth in an amount which is not less than the greatest of:

1. One million five hundred thousand dollars;

2. Two percent of the first $150,000,000 earned as revenue from premiums collected in the preceding 12-month period, plus 1 percent of the amount in excess of $150,000,000 earned as revenue from premiums collected in that same period; or

3. The amount of risk-based capital required by regulations adopted by the Commissioner pursuant to NRS 681B.550.

(Added to NRS by 2019, 1717)

Previous Section
NRS 695C.210 - Annual report of financial condition and financial statement; quarterly statement; administrative penalty for failure to file report or statement; extension of time.
Next Section
NRS 695C.220 - Applications, filings and reports open to public inspection.