Rhode Island § 23-59-8 § 23-59-8. Financial instability.

Rhode Island Statutes

§ 23-59-8 — § 23-59-8. Financial instability.

Rhode Island·Title 23 Health and Safety·Ch. 23-59 Continuing Care Provider Registration and Disclosure

§ 23-59-8. Financial instability.
The department may act as authorized by § 23-59-16 to protect residents or prospective residents when the department determines that:
(1) A provider has been or will be unable, in such a manner as may endanger the ability
            of the provider to fully perform its obligations pursuant to its continuing care contracts,
            to meet the pro forma income or cash flow projections previously filed by the provider;
            or
         
(2) A provider is bankrupt, insolvent, under reorganization pursuant to federal bankruptcy
            laws, or in imminent danger of becoming bankrupt or insolvent.

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§ 23-59-8. Financial instability.

The department may act as authorized by § 23-59-16 to protect residents or prospective residents when the department determines that:

(1) A provider has been or will be unable, in such a manner as may endanger the ability of the provider to fully perform its obligations pursuant to its continuing care contracts, to meet the pro forma income or cash flow projections previously filed by the provider; or

(2) A provider is bankrupt, insolvent, under reorganization pursuant to federal bankruptcy laws, or in imminent danger of becoming bankrupt or insolvent.

Rhode Island § 23-59-8 (§ 23-59-8. Financial instability.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.