§432D-5  Annual and quarterly reports. (a)  Every health maintenance organization shall file annually, on or beforeMarch 1, a report verified by at least two principal officers covering thepreceding calendar year.  Each health maintenance organization shall filequarterly with the commissioner, on or before the forty-fifth day after eachquarter, a copy of its quarterly report verified by at least two principalofficers.  These reports shall comply with sections 431:3-301 and 431:3-302. The commissioner may prescribe the forms on which the reports are to be filed. In addition, the health maintenance organization annually shall file with thecommissioner the following by the dates specified:

(1)  An audit, by an independent certified publicaccountant or an accounting firm designated by the health maintenanceorganization of the financial statements, reporting the financial condition andresults of operations of the health maintenance organization on or before June1, or a later date as the commissioner upon request or for cause may specify. The health maintenance organization, on an annual basis and prior to thecommencement of the audit, shall notify the commissioner in writing of the nameand address of the person or firm retained to conduct the annual audit.  Thecommissioner may disapprove the health maintenance organization's designationwithin fifteen days of receipt of the health maintenance organization's notice,and the health maintenance organization shall be required to designate anotherindependent certified public accountant or accounting firm.  The audit requiredin this paragraph shall be prepared in accordance with the National Associationof Insurance Commissioners' annual statement instructions, following thepractices and procedures prescribed by the National Association of InsuranceCommissioners' accounting practices and procedures manuals;

(2)  A list of the providers who have executed acontract that complies with section 432D-8(d) on or before March 1; and

(3)  A description of the available grievanceprocedures, the total number of grievances handled through those procedures, acompilation of the causes underlying those grievances, and a summary of thefinal disposition of those grievances on or before March 1.

(b)  The commissioner may require additionalreports as are deemed necessary and appropriate to enable the commissioner tocarry out the commissioner's duties under this chapter.

(c)  The commissioner may suspend or revoke thecertificate of authority of any health maintenance organization who fails tofile any of the documents required under subsection (a).  In lieu or inaddition to the suspension or revocation of the certificate of authority of anyhealth maintenance organization, the commissioner may fine the health maintenanceorganization not less than $100 and not more than $500 for each day ofdelinquency. [L 1995, c 179, pt of §1; am L 1999, c 247, §1; am L 2000, c 74,§4; am L 2003, c 212, §125]