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Ch.3
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2007 Laws of Maryland
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(5) THERE HAS BEEN A SIGNIFICANT DECLINE IN THE OCCUPANCY
RATE THAT IS LIKELY TO HAVE A MATERIAL ADVERSE FINANCIAL IMPACT ON THE
PROVIDER;
(6) THERE HAS BEEN A MATERIAL ADVERSE CHANGE IN DEBT SERVICE
COVERAGE RATIO FOR AN EXTENDED PERIOD OF TIME THAT REDUCES THE RATIO TO
LESS THAN 1.0;
(7) THERE HAS BEEN A SIGNIFICANT DECLINE IN DAYS CASH ON HAND
THAT IS UNRELATED TO ADDITIONS TO PROPERTY, PLANT, AND EQUIPMENT OR
OTHER COMMUNITY ENHANCEMENTS AND THAT COULD RESULT IN AN INABILITY TO
PAY OBLIGATIONS OF THE PROVIDER AS THEY BECOME DUE;
(8) THERE HAS BEEN A SIGNIFICANT INCREASE IN THE OPERATING
RATIO, ADJUSTED FOR UNREALIZED GAINS AND LOSSES ON INVESTMENTS, THAT
COULD RESULT IN THE INABILITY OF THE PROVIDER TO MEET ITS OBLIGATIONS; OR
(9) THE REFUSAL OR INABILITY OF THE PROVIDER TO PROVIDE
ACCURATE INFORMATION OR DATA REQUIRED TO BE SUBMITTED TO THE
DEPARTMENT UNDER THIS SUBTITLE AND RELATED REGULATIONS.
REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 70B, § 17A(h).
In item (5) of this section, the reference to the financial impact "on the
provider" is added for clarity.
Also in item (5) of this section, the reference to a "significant decline in the
occupancy rate" is substituted for the former reference to a "significant
declining occupancy" for accuracy since it would be the occupancy rate that
would be declining.
Defined terms: "Department" § 10-101
"Provider" § 10-401
10-470. RESERVED.
10-471. RESERVED.
PART VIII. DELINQUENCY PROCEEDINGS.
10-472. DEFINITIONS.
(A) IN GENERAL.
EST THIS PART THE FOLLOWING WORDS HAVE THE MEANINGS INDICATED.
REVISOR'S NOTE: This subsection is new language added as the standard
introductory language to a definition section.
(B) CREDITOR
"CREDITOR" MEANS A PERSON WITH A CLAIM AGAINST A PROVIDER
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