New York § 4611 Reserves and supporting assets

New York Statutes

§ 4611 — Reserves and supporting assets

New York § 4611

Law PBHPublic Health

Art. 46Continuing Care Retirement Communities

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Bluebook

N.Y. Public Health § 4611 (2026).

Text

* § 4611. Reserves and supporting assets.

1.An operator shall\nmaintain reserve liabilities and supporting assets in an amount and for\nthe purposes set forth in a regulation issued by the superintendent of\nfinancial services. Liquid assets must be maintained for the following\nreserve liabilities:\n a. Principal and interest payments and payments for taxes and\ninsurance for up to twelve months;\n b. Total estimated operating costs for up to six months as set by the\nsuperintendent;\n c. Repairs and replacements for up to twelve months; and\n d. In addition, the amount of liquid assets must meet any cash flow\nrequirements and conditions as set forth in a regulation.\n 2. The assets in support of reserve liabilities of subdivision one of\nthis section shall meet quantitative and

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* § 4611. Reserves and supporting assets. 1. An operator shall\nmaintain reserve liabilities and supporting assets in an amount and for\nthe purposes set forth in a regulation issued by the superintendent of\nfinancial services. Liquid assets must be maintained for the following\nreserve liabilities:\n a. Principal and interest payments and payments for taxes and\ninsurance for up to twelve months;\n b. Total estimated operating costs for up to six months as set by the\nsuperintendent;\n c. Repairs and replacements for up to twelve months; and\n d. In addition, the amount of liquid assets must meet any cash flow\nrequirements and conditions as set forth in a regulation.\n 2. The assets in support of reserve liabilities of subdivision one of\nthis section shall meet quantitative and qualitative standards set forth\nin regulations issued by the superintendent.\n * NB Effective until June 1, 2026\n * § 4611. Reserves and supporting assets. 1. An operator shall\nmaintain reserve liabilities and supporting assets in an amount and for\nthe purposes set forth in a regulation issued by the commissioner.\nLiquid assets must be maintained for the following reserve liabilities:\n a. Principal and interest payments and payments for taxes and\ninsurance for up to twelve months;\n b. Total estimated operating costs for up to six months as set by the\ncommissioner;\n c. Repairs and replacements for up to twelve months; and\n d. In addition, the amount of liquid assets must meet any cash flow\nrequirements and conditions as set forth in a regulation.\n 2. The assets in support of reserve liabilities of subdivision one of\nthis section shall meet quantitative and qualitative standards set forth\nin regulations issued by the commissioner.\n * NB Effective June 1, 2026\n