§432D-5  Annual and quarterly reports. 
(a)  Every health maintenance organization shall file annually, on or before
March 1, a report verified by at least two principal officers covering the
preceding calendar year.  Each health maintenance organization shall file
quarterly with the commissioner, on or before the forty-fifth day after each
quarter, a copy of its quarterly report verified by at least two principal
officers.  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 the
commissioner the following by the dates specified:



(1)  An audit, by an independent certified public
accountant or an accounting firm designated by the health maintenance
organization of the financial statements, reporting the financial condition and
results of operations of the health maintenance organization on or before June
1, 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 the
commencement of the audit, shall notify the commissioner in writing of the name
and address of the person or firm retained to conduct the annual audit.  The
commissioner may disapprove the health maintenance organization's designation
within fifteen days of receipt of the health maintenance organization's notice,
and the health maintenance organization shall be required to designate another
independent certified public accountant or accounting firm.  The audit required
in this paragraph shall be prepared in accordance with the National Association
of Insurance Commissioners' annual statement instructions, following the
practices and procedures prescribed by the National Association of Insurance
Commissioners' accounting practices and procedures manuals;



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



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



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



(c)  The commissioner may suspend or revoke the
certificate of authority of any health maintenance organization who fails to
file any of the documents required under subsection (a).  In lieu or in
addition to the suspension or revocation of the certificate of authority of any
health maintenance organization, the commissioner may fine the health maintenance
organization not less than $100 and not more than $500 for each day of
delinquency. [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]