§ 129087. — 129087. (Amended by Stats. 2021, Ch. 143, Sec. 242.)

California § 129087.

• Jurisdiction: California
• Code HSC: Health and Safety Code - HSC
• Div. 107.: DIVISION 107. HEALTH CARE ACCESS AND INFORMATION
• Part 6.: PART 6. FACILITIES LOAN INSURANCE AND FINANCING
• Ch. 1.: CHAPTER 1. Health Facility Construction Loan Insurance
• Art. 2.: ARTICLE 2. Insurable Loans and Applications Therefor

Text

The department shall develop and maintain a formal system of monitoring borrowers, in order to assist the department in detecting at the earliest possible date those borrowers who are experiencing financial difficulties. This system shall include, but shall not be limited to, all of the following:
(a)
A method of tracking the receipt of information that borrowers are required by law and regulatory agreement to submit to the department.
(b)
A process for thoroughly reviewing borrowers’ financial statements, budgets, auditor’s management letters, and health facility utilization trends.
(c)
Timely and structured site visits to insured facilities.

Legislative History

Amended by Stats. 2021, Ch. 143, Sec. 242. (AB 133) Effective July 27, 2021.