§ 58-64A-270. Operating reserve certification.
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§ 58-64A-270. Operating reserve certification.
At the time a provider files its annual audited financial statements pursuant to G.S. 58-64A-195, a provider shall file a form acceptable to the Commissioner computing, reporting, and certifying all of the following:
(1)The 12-month daily average independent living unit occupancy rate at the continuing care retirement community, or a shorter period of time that the continuing care retirement community has been in operation, as of the date of certification.
(2)The amount the provider is required to hold as its operating reserve.
(3)A description of the qualifying assets or other form of security and, if applicable, their respective values, as defined and valued in accordance with G.S. 58-64A-255, that the provider maintains for its operating reserve. (2025-58, s. 2.)