A. The association is subject to and responsible to pay the cost of examination by the superintendent on a periodic basis, pursuant to Chapter 59A, Article 4 NMSA 1978.
B. Not later than March 1 of each year, the board shall submit to the superintendent an annual statement in accordance with the requirements of Section 59A-5-29 NMSA 1978 and a risk-based capital report in accordance with the requirements of Section 59A-5A-3 NMSA 1978.
History: Laws 1997, ch. 107, § 7; 2014, ch. 59, § 50.
ANNOTATIONSThe 2014 amendment, effective July 1, 2014, required the provider service network guarantee board to submit annual statements and risk-based capital reports to the superintendent; and in Subsection B, after "submit to the superintendent an", deleted "audited financial report for the preceding calendar year in a form approved by the superintendent" and added the remainder of the sentence.
Severability. — Laws 2014, ch. 59, § 54 provided that if any part or application of the provisions of Laws 2014, ch. 59 is held invalid, the remainder or its application to other situations or persons shall not be affected.