1. The Commissioner shall cause to be conducted at least annually an audit of each association of self-insured public or private employers in order to verify:

(a) The standard industrial classification of each member of the association;

(b) The individual experience of each member of the association;

(c) The payroll of each member of the association; and

(d) The assessment required to be paid by each member of the association.

2. The audit required by this section must be conducted by an auditor approved by the Commissioner.

3. A report of the audit must be filed with the Commissioner in a form required by the Commissioner.

4. The association or any member of the association may request a hearing before the Commissioner to object to any standard industrial classification assigned to a member of the association as a result of the audit. If the Commissioner determines that the assessment required to be paid by any member of the association is:

(a) Insufficient because of the standard industrial classification assigned to the member, the Commissioner shall order the association to collect from that member any amount required to recover the deficiency.

(b) Excessive because of the standard industrial classification assigned to the member, the Commissioner shall order the association to pay to the member the excess amount collected.

5. The expenses of any audit conducted pursuant to this section must be paid by the association.

(Added to NRS by 1993, 676) — (Substituted in revision for NRS 616.37957)