3554

LAWS OF MARYLAND

Ch. 752

(F)  ANY PROVIDER NOTIFIED OF FINANCIAL DIFFICULTY BY THE
OFFICE SHALL PREPARE AND SUBMIT TO THE OFFICE FOR ITS APPROVAL A
5-YEAR FINANCIAL PLAN TO CORRECT THE CAUSES OF THE FINANCIAL
DIFFICULTY. THE FINANCIAL PLAN SHALL BE SUBMITTED WITHIN 60 DAYS
OF NOTIFICATION. THE PROVIDER MAY REQUEST ONE 30-DAY EXTENSION
FROM THE DIRECTOR OF THE OFFICE. THE DIRECTOR MAY GRANT THE
EXTENSION. THE OFFICE SHALL RESPOND TO THE PROVIDER WITHIN 60
DAYS OF RECEIPT OF THE PROPOSED PLAN. THE OFFICE MAY WORK WITH
THE PROVIDER TO ESTABLISH THE FINANCIAL PLAN AND MAY CONSULT WITH
THE FINANCIAL REVIEW COMMITTEE PRIOR TO APPROVING THE PLAN. UPON
APPROVAL THE PLAN SHALL BE IMPLEMENTED.

(G)  THE OFFICE MAY WITHHOLD THE RENEWAL CERTIFICATE OR
WITHDRAW A CERTIFICATE OF REGISTRATION:

(1)  IF THE PROVIDER DOES NOT PREPARE A FINANCIAL
PLAN;

(2)  IF THE PROVIDER IS UNWILLING OR UNABLE TO PREPARE
A FINANCIAL PLAN;

(3)  IF THE FINANCIAL PLAN IS INADEQUATE TO CORRECT
THE CURRENT OR IMPENDING FINANCIAL CONDITION WHICH NECESSITATED
THE FINANCIAL PLAN; OR

(4)  IF THE PROVIDER FAILS TO IMPLEMENT THE PLAN.

(H) THE PROVIDER SHALL SUBMIT TO THE OFFICE ON AGING AN
ANNUAL PROGRESS REPORT FOR THE. TERM OF ITS FINANCIAL PLAN AND
SHALL REVISE ITS FINANCIAL PLAN IF THE OFFICE ON AGING DETERMINES
THAT REVISIONS ARE NECESSARY.

SECTION 2. AND BE IT FURTHER ENACTED, That the initial
appointments to the Financial Review Committee shall be as
follows: 1 member knowledgeable in continuing care, 1 member who
is a certified public accountant, and 1 consumer member shall
serve for 1 year; the member who is a representative of the
financial community shall serve for 2 years; and 1 member
knowledgeable in continuing care, 1 member who is a certified
public accountant, and 1 consumer member shall serve 3 years.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1985.

Approved May 28, 1985.