The president shall submit an annual, independently audited report, in accordance with procedures governing annual reports adopted by the national association of insurance commissioners, by October 1 of each year to the governor, the legislative finance committee and any other appropriate legislative committee indicating the business done by the company during the previously completed fiscal year and containing a statement of the resources and liabilities of the company. The report shall include:
A. the volume of premiums insured through the company and its share of the workers' benefits market in the state;
B. the percent division of the premium dollars among various types of benefit payments and administrative costs for policies and claims under the company;
C. the average rate of return enjoyed by the company on invested assets;
D. recommendations concerning desired changes in the company to promote its prompt and efficient administration of policies and claims;
E. recommendations to the legislature and the governor regarding the continued operation of the company; and
F. any other information the president deems appropriate.
History: Laws 1990 (2nd S.S.), ch. 2, § 143.
ANNOTATIONSEffective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 143 effective January 1, 1991.