Ch. 325
LAWS OF MARYLAND
file with the Office [on Aging] a statement of intent to provide
continuing care [and shall provide the same information as
required under § 11 for application of a certificate of
registration] AT' LEAST 30 DAYS PRIOR TO SUBMISSION OF A
FEASIBILITY STUDY FOR APPROVAL BY THE OFFICE.
(b) [All providers, including those in subsection (a) of
this section, shall also file] A PROVIDER, MAY NOT COLLECT
DEPOSITS FOR CONTINUING CARE OR BEGIN CONSTRUCTION OF NEW OR
EXPANDED FACILITIES WITHOUT APPROVAL OF a feasibility study[,].
THE FEASIBILITY STUDY SHALL BE FILED in a form satisfactory to
the Office on Aging[.] AND [The feasibility study] shall include
at least the following information:
(1) A statement of the purpose and need for the
project and the reasons for the proposed construction, expansion,
or renovation;
(2) A statement of financial resources of the
[providers] PROVIDER;
(3) A statement of the capital expenditures necessary
to accomplish the project; [and]
(4) A statement of financial
proposed project which shall include a
funding sources; AND
(5) AN ACTUARIAL FORECAST REVIEWED BY A CERTIFIED
ACTUARY.
(c) [Providers] THE PROVIDER may collect deposits from
prospective members, provided that a feasibility study has been
approved by the Office [on Aging] and that funds collected are
maintained in an escrow account.
(d) A feasibility study may be approved by the Office [on
Aging] when it determines that:
(1) [The number of comprehensive, domiciliary, or
extended care beds in the continuing care facility, for which
licenses are required by the Department' of Health and Mental
Hygiene, is not inconsistent with the State health plan] THE
PROVIDER HAS OBTAINED A CERTIFICATE OF NEED OR A LETTER OF
EXEMPTION FROM THE CERTIFICATE OF NEED FROM THE MARYLAND HEALTH
RESOURCES PLANNING COMMISSION;
(2) A reasonable financial plan has been developed
for constructing the project;
(3) A market for the continuing care facility appears
to exist;
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feasibility for the
statement of future
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