§432:2-602  Reports.  Reports shall befiled in accordance with the provisions of this section.

(a)  Every society transacting business in thisState shall annually, on or before March 1, unless for cause shown such timehas been extended by the commissioner, file with the commissioner a truestatement of its financial condition, transactions and affairs for thepreceding calendar year and pay a fee of $7.50 for filing same.  The statementshall be in general form and context as approved by the National Association ofInsurance Commissioners for fraternal benefit societies and as supplemented byadditional information required by the commissioner.

(b)  As part of the annual statement hereinrequired each society shall, on or before March 1, file with the commissioner avaluation of its certificates in force on December 31 last preceding, providedthe commissioner may, in the commissioner's discretion for cause shown, extendthe time for filing such valuation for not more than two calendar months.  Suchvaluation shall be done in accordance with the standards specified in section432:2-601.  Such valuation and underlying data shall be certified by aqualified actuary or, at the expense of the society, verified by the actuary ofthe department of insurance of the state of domicile of the society.

(c)  A society neglecting to file the annualstatement in the form and within the time provided by this section shall beliable for a penalty of $100 for each day during which such neglect continues,and, upon notice by the commissioner to that effect, its authority to dobusiness in this State shall cease while such default continues. [L 1987, c347, pt of §2]