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2006 LAWS OF MARYLAND
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Ch. 113
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(1) (1) [It] EXCEPT FOR A FEASIBILITY STUDY FILED UNDER § 10 OF THIS
SUBTITLE, WHICH SHALL BE CONFIDENTIAL ONLY UNTIL AN INITIAL CERTIFICATE
OF REGISTRATION FOR THE PROJECT IS ISSUED, IT shall be the responsibility of the
Department to make the information required to be provided pursuant to this subtitle
available to all interested persons. The Department shall publicize the availability of
this information.
(2) PARAGRAPH (1) OF THIS SUBSECTION DOES NOT APPLY TO
INFORMATION REQUIRED TO BE PROVIDED UNDER § 11D(B)(4) OF THIS SUBTITLE,
WHICH SHALL BE DISCLOSED ONLY TO THE EXTENT REQUIRED UNDER THE PUBLIC
INFORMATION ACT.
11A.
(b) (1) A provider that has a governing body shall include at least one of the
provider's subscribers as a full and regular member of the governing body.
(2) If a provider that has a governing body owns or operates more than
three facilities in the State, there shall be at least one of the provider's subscribers as
a full and regular member of the governing body for every three facilities in the State.
(3) (i) Subject to the provisions of subparagraph (ii) of this paragraph,
a governing body member selected to meet the requirements of this subsection shall
be a subscriber at a facility in the State and be selected according to the same general
written standards and criteria used to select other members of the governing body.
(ii) The governing body shall confer with the resident association at
each facility of the provider before the subscriber officially joins the governing body.
(4) THE SECRETARY MAY WAIVE THE REQUIREMENTS OF THIS
SUBSECTION FOR A PROVIDER IN THE PROCESS OF DECERTIFYING AS A CONTINUING
CARE PROVIDER, IF THE SECRETARY DETERMINES THAT THERE IS GOOD CAUSE ARE
NO SUBSCRIBERS WILLING AND ABLE TO SERVE ON THE GOVERNING BODY.
11B.
(a) In this section, "net operating expenses" means the provider's total
operating expenses at each facility of the provider, less depreciation, amortization,
unusual and infrequent expenses, [and] changes in the obligation to provide future
services, AND CHANGES IN THE FAIR MARKET VALUE OF INTEREST RATE SWAP
AGREEMENTS NOT INVOLVING AN EXCHANGE OF FUNDS. Interest expenses may be
excluded from calculation of net operating expenses, if the provider has funded a debt
service reserve or other interest reserve under requirements imposed by a financial
institution or under applicable financing documents, to the extent and in the amount
the fund includes amounts to cover interest for the year in question.
(b) Except as otherwise provided in this section, the provider shall set aside
for each facility subject to this subtitle operating reserves that equal 15% of the
facility's net operating expenses for the most recent fiscal year for which a certified
financial statement is available. The reserves shall be maintained in reasonably
liquid form in the judgment of the provider.
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