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2006 LAWS OF MARYLAND
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Ch.113
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by the Department for good cause shown, the provider shall refund all deposits and
cease in its attempts to offer continuing care under that application.
(e) Annually, within 120 days after the end of the fiscal year, the provider
shall file an application for a renewal certificate OF REGISTRATION in a form
satisfactory to the Department which shall contain the following information:
(1) Any additions or changes to the information required by § 10 of this
subtitle;
(2) An audited financial statement for the preceding fiscal year prepared
in accordance with an audit guide adopted by the Department;
(3) An operating budget for the current fiscal year, and a projected
operating budget for the next succeeding fiscal year;
(4) A cash flow projection for the current fiscal year and the next 2 fiscal
years;
(5) A projection of the life expectancy and the number of residents who
will require nursing home care;
(6) An actuarial study reviewed by a qualified actuary and submitted
every 3 years, UNLESS THE PROVIDER IS EXEMPTED FROM THE REQUIREMENT FOR
AN ACTUARIAL STUDY BY REGULATIONS ADOPTED BY THE DEPARTMENT
EXEMPTING CATEGORIES OF PROVIDERS THAT THE DEPARTMENT DETERMINES
HAVE SUBSTANTIALLY LIMITED LONG-TERM CARE LIABILITY EXPOSURE;
(7) The form and substance of any advertising campaign or proposed
advertisement and other promotional materials not previously filed with the
Department; and
(8) Any further information that the Department requires.
(f) If the application and accompanying information is not received by the
Department within the 120-day period, a late fee may be charged. Failure to file the
required information within 90 days of the due date shall be a violation of this
subtitle.
(g) A renewal of a certificate of registration shall be issued by the Department
when it determines that:
(1) The documents required have been filed;
(2) Any revised continuing care agreements meet the requirements of
this subtitle;
(3) The provider has complied with § 17A of this subtitle if it has been
found to be in financial difficulty;
(4) When appropriate, the facility has been licensed or certified by the
Department of Health and Mental Hygiene or the Department; and
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