                                 CODE OF VIRGINIA

ADDITIONAL REPORTS (§ 38.2-4307.1)

A. In addition to the annual statement, the Commission may require a licensed
health maintenance organization to file additional reports, exhibits or
statements considered necessary to secure complete information concerning the
condition, solvency, experience, transactions or affairs of the health
maintenance organization. The Commission shall establish reasonable deadlines
for filing these additional reports, exhibits, or statements and may require
verification by any officers of the health maintenance organization designated
by the Commission.

B. The Commission may require a licensed health maintenance organization to file
with the National Association of Insurance Commissioners (NAIC) a copy of its
financial statement required to be filed pursuant to &#xA7; 38.2-4307, on a
quarterly basis. Unless otherwise prescribed by the Commission, all such
financial statements, whether filed with the Commission or the NAIC, shall be
prepared in accordance with applicable provisions of the annual statement
instructions and the accounting practices and procedures manual adopted by the
NAIC, or any successor publications. The Commission may prescribe that
additional copies of financial statements and other reports be filed in
machine-readable format.

C. Each annual and quarterly statement shall be accompanied by a statement of
covered and uncovered expenses. The statement shall be prepared in accordance
with instructions prescribed by the Commission for reporting the expenses of the
health maintenance organization during the three months comprising the most
recently ended calendar-year quarter. The statement of covered and uncovered
expenses shall not be required for any health maintenance organization that
reports a capital and surplus amount of at least $4,500,000 on its most recent
annual or quarterly financial statement filed with the Commission.

HISTORY: 1990, c. 224; 1999, c. 482; 2000, c. 503; 2006, c. 448.