Annual report, financial statement and tax; administrative penalty for failure to file report or financial statement.
1. Every organization for dental care shall file with the Commissioner on or before March 1 of each year a report covering its activities for the preceding calendar year. The report must be verified by at least two officers of the organization.
2. The report must be on a form prescribed by the Commissioner and must include:
(a) A financial statement of the organization, including its balance sheet and receipts and disbursements for the preceding calendar year.
(b) Any material changes in the information given in the previous report.
(c) The number of members enrolled in that year, the number of members whose coverage has been terminated in that year and the total number of members at the end of the year.
(d) The costs of all goods, services and dental care provided that year.
(e) Any other information relating to the plan for dental care requested by the Commissioner.
3. Every organization for dental care shall file with the Commissioner annually an audited financial statement prepared by an independent certified public accountant. The statement must cover the most recent fiscal year of the organization and must be filed with the Commissioner within 120 days after the end of that fiscal year.
4. If an organization fails to file timely the report or financial statement required by this section, it shall pay an administrative penalty of $100 per day until the report or statement is filed, except that the total penalty must not exceed $3,000. The Attorney General shall recover the penalty in the name of the State of Nevada.
5. The Commissioner may grant a reasonable extension of time for filing the report or financial statement required by this section, if the request for an extension is submitted in writing and shows good cause.
6. The organization shall pay the Department of Taxation the annual tax, any penalty for nonpayment or delinquent payment of the tax imposed in chapter 680B of NRS, and a filing fee of $25 to the Commissioner, at the time the annual report is filed.
Last modified: February 27, 2006