(a) Every limited health service organization shall file with the Commissioner, on or before March 31 of each year, an exact report covering the preceding calendar year, certified by a certified public accountant and signed under oath by two (2) principal officers.\n(b) The report shall be on forms prescribed by the Commissioner and shall include:\n(1) A financial statement of the organization, including its balance sheet, income and loss statement, and a statement of sources and application of funds for the preceding year;\n(2) the number of subscribers at the beginning of the year, the number of subscribers as of the end of the year, and the number of enrollments terminated during the year;\n(3) any material change to the information submitted in accordance with § 9274 of this title, and\n(4) such other information related to the performance of the organization as is necessary to enable the Commissioner to carry out his/her duties under this chapter.\n(c) The Commissioner may require more frequent reports containing such information as is necessary to enable the Commissioner to carry out his/her duties under this chapter.\n(d) The Commissioner may assess a fine of up to one quire more frequent reports containing such information as is necessary to enable the Commissioner to carry out his/her duties under this chapter.\n(d) The Commissioner may assess a fine of up to one hundred dollars ($100) per day for each day any required report is late, and suspend the organization's certificate of authority pending the proper filing of the required report by the organization.\nHistory —Aug. 29, 2011, No. 194, added as § 16.200 on Aug. 23, 2012, No. 203, § 2, eff. 90 days after Aug. 23, 2012.
Puerto Rico Legal Code