- A. The fiscal year of the alliance shall be determined by the board.
- B. The board of directors shall conduct periodic audits to assure the general accuracy of the financial data submitted to the alliance pursuant to Section 59A-56-11 NMSA 1978. The board shall cause the alliance to have an annual audit of its financial statements by an independent certified public accountant.
- C. The alliance shall be subject to and responsible for examination by the superintendent. Not later than March 1 of each year, the board of directors shall submit to the superintendent an audited financial report for the preceding calendar year in a form approved by the superintendent. The report shall also review the activities of the alliance during the preceding calendar year.
- D. All policy forms issued through the alliance shall conform to the requirements of the act and must be filed with and approved by the superintendent before their use.
[13.10.11.14 NMAC - N, 6-1-01]