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Session Laws, 2007
Volume 803, Page 431   View pdf image
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Martin O'Malley, Governor
Ch.3
REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 70B, § 9. In subsection (b)(1) and (2) of this section, the references to a capital
addition "to a facility" are added for clarity. Defined terms: "Continuing care" § 10-401
"Continuing care agreement" § 10-401
"Continuing care in a retirement community" § 10-401
"Department" § 10-101
"Deposit" § 10-401
"Expansion" § 10-401
"Facility" § 10-401
"Provider" § 10-401
"Renovation" § 10-401 10-409. FEASIBILITY STUDY. (A) REQUIRED. A PROVIDER MAY NOT COLLECT DEPOSITS FOR CONTINUING CARE OR BEGIN
CONSTRUCTION OF A NEW FACILITY UNTIL THE DEPARTMENT APPROVES A
FEASIBILITY STUDY (B) STATEMENT OF INTENT. A PERSON WHO INTENDS TO SUBMIT A FEASIBILITY STUDY UNDER
SUBSECTION (C) OF THIS SECTION SHALL FILE WITH THE DEPARTMENT A
STATEMENT OF INTENT TO PROVIDE CONTINUING CARE AT LEAST 30 DAYS BEFORE
THE PERSON SUBMITS THE FEASIBILITY STUDY TO THE DEPARTMENT. (C) FORM AND CONTENTS.
A FEASIBILITY STUDY SHALL: (1) BE FILED IN A FORM SATISFACTORY TO THE DEPARTMENT; AND (2) INCLUDE AT LEAST THE FOLLOWING INFORMATION: (I) A STATEMENT OF THE PURPOSE OF THE PROPOSED
CONSTRUCTION OR CONVERSION; (II) DOCUMENTATION OF THE FINANCIAL RESOURCES OF THE PROVIDER; (III) A STATEMENT OF THE CAPITAL EXPENDITURES NECESSARY TO
ACCOMPLISH THE PROJECT AND THE PLAN FOR ACQUIRING THE NECESSARY
CAPITAL; (IV) A PLAN DEMONSTRATING THE FINANCIAL FEASIBILITY OF THE
PROPOSED PROJECT, INCLUDING FUTURE FUNDING SOURCES; (V) A STUDY THAT DEMONSTRATES THE MARKET FOR THE PROJECT;
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Session Laws, 2007
Volume 803, Page 431   View pdf image
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