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§ 10-423. Operating reserves--Unconverted facilities

West's Annotated Code of MarylandHuman ServicesEffective: October 1, 2012

West's Annotated Code of Maryland
Human Services (Refs & Annos)
Title 10. Department of Aging (Refs & Annos)
Subtitle 4. Continuing Care (Refs & Annos)
Part III. Providers (Refs & Annos)
Effective: October 1, 2012
MD Code, Human Services, § 10-423
§ 10-423. Operating reserves--Unconverted facilities
Amount
(a) For a facility that has not been the subject of a conversion and that has residents who are not parties to continuing care agreements, the provider shall calculate the amount of operating reserves required under § 10-420 of this subtitle based on the pro rata proportion of the net operating expenses as specified under subsection (b) of this section.
Calculation of pro rata proportion of net operating expenses
(b) The pro rata proportion of the net operating expenses equals the number of units in the facility for which the Department has issued a certificate of registration divided by the total number of accommodations in the facility multiplied by the net operating expenses for the most recent fiscal year for which a certified financial statement is available.

Credits

Added by Acts 2007, c. 3, § 2, eff. Oct. 1, 2007. Amended by Acts 2012, c. 523, § 1, eff. Oct. 1, 2012; Acts 2012, c. 524, § 1, eff. Oct. 1, 2012.
MD Code, Human Services, § 10-423, MD HUMAN SERV § 10-423
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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