131E-242. Contingency fund.
(a) The Department may maintain a temporary management contingency fund.
(b) Upon a showing that proper expenses of the temporary management under this Article exceed the operating funds of the long-term care facility, the court, in its discretion, may order that the Department provide funds from the contingency fund to the temporary manager to operate the facility and compensate the temporary manager.
(c) When the total funds available in the contingency fund exceed five hundred thousand dollars ($500,000), the Department may reallocate any or all of the amount in excess of five hundred thousand dollars ($500,000) for other activities intended to protect the health and property of residents. (1993, c. 390, s. 1; 1995, c. 535, s. 27; 1998-215, s. 78(d); 1999-334, s. 1.13.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 131E - Health Care Facilities and Services
Article 13 - Temporary Management of Long-Term Care Facilities.
§ 131E-230 - Legislative findings.
§ 131E-232 - Who may petition; contents of petition.
§ 131E-233 - Procedures for appointment; evidence in defense.
§ 131E-234 - Grounds for appointment of temporary manager.
§ 131E-235 - Alternative to appointment of temporary manager.
§ 131E-236 - Compensation of temporary manager.
§ 131E-237 - Candidates for temporary managers.
§ 131E-238 - Temporary manager; powers and duties.
§ 131E-239 - Plan for correction of deficiencies in excess of one thousand dollars ($1,000).
§ 131E-240 - Payment to temporary manager.
§ 131E-241 - Avoidance of preexisting leases, mortgages, and contracts.
§ 131E-242 - Contingency fund.
§ 131E-243 - Review and termination of temporary management.
§ 131E-244 - Accounting lien for expenses.