23 CAR § 23-404. Adverse opinions

(a) If the appointed actuary is unable to form an opinion, he or she shall refuse to issue a statement of actuarial opinion. (b)(1) If the appointed actuary’s opinion is adverse or qualified, he or she shall issue an adverse or qualified actuarial opinion explicitly stating the reason or reasons for such opinion. (2) This statement should follow the scope paragraph and precede the opinion paragraph.