(a) For a facility that has not been the subject of a conversion and that has residents who are not parties to continuing care agreements, the provider shall calculate the amount of operating reserves required under § 10–420 of this subtitle based on the pro rata proportion of the net operating expenses as specified under subsection (b) of this section.
(b) The pro rata proportion of the net operating expenses equals the number of units in the facility for which the Department has issued a certificate of registration divided by the total number of accommodations in the facility multiplied by the net operating expenses for the most recent fiscal year for which a certified financial statement is available.
Structure Maryland Statutes
Title 10 - Department of Aging
Section 10-419 - "Net Operating Expenses" Defined
Section 10-420 - Operating Reserves -- in General
Section 10-421 - Operating Reserves -- Computation
Section 10-422 - Operating Reserves -- Drawing Funds From Reserves
Section 10-423 - Operating Reserves -- Unconverted Facilities
Section 10-424 - Disclosure Statements -- in General
Section 10-425 - Disclosure Statements -- Contents
Section 10-426 - Annual Meeting
Section 10-427 - Subscriber Input
Section 10-428 - Internal Grievance Procedure