Each residential long-term care facility must have a governing body that has ultimate authority for:
- (1) The overall operation of the facility;
- (2) The adequacy and quality of care;
- (3) The financial solvency of the facility and the appropriate use of its funds;
- (4) The implementation of the standards set forth in this part; and
- (5) The adoption, implementation, and maintenance, in accordance with the requirements of state and federal laws and regulations and these licensing standards, of resident care policies and administrative policies governing the operation of the facility.