(1) The commissioner may conduct an examination or investigation of a provider to:
- (a) determine the financial solvency of a facility;
- (b) determine the adequacy of the additional reserve fund under Section R590-273-6;
- (c) verify a statement contained in a disclosure or actuarial statement;
- (d) act on a complaint against a provider or a facility;
- (e) obtain documents requested by the commissioner; or
- (f) take corrective action to enforce compliance.
(2) The commissioner may take corrective action, including:
- (a) suggesting corrective business practices;
- (b) restricting or prohibiting behavior by a provider that is misleading, unfair, or abusive;
- (c) ordering a provider to cease and desist from committing further violations;
- (d) suspending, revoking, or non-renewing a provider's registration;
- (e) requiring information to compare continuing care contracts, providers, or facilities;
- (f) requiring disclosure of all terms and conditions of continuing care contracts and agreements;
- (g) requiring disclosure of any financial risks; and
- (h) promoting certain communications between the residents and the provider.
(3)(a) The provider shall give the commissioner access to the books and papers relating to the business and affairs of the provider.
- (b) The books and records required under Subsection 31A-44-603(2)(a) shall be available for inspection by the commissioner during normal business hours from the date of the transaction and for no less than three years, plus the current calendar year.
- (4) The commissioner may bill the provider for the reasonable costs of an examination or investigation, including the cost of the review by an actuary.
KEY: insurance, continuing care facility
Date of Last Change: September 10, 2024
Notice of Continuation: April 7, 2022
Authorizing, and Implemented or Interpreted Law: 31A-44-202(2); 31A-2-201; 31A-44-314; 31A-44-401(3); 31A-44-402(2); 31A-44-502(2)(d); 31A-44-503(4)(d); 31A-44-601(6)(f); 31A-44-602(2)(b); 31A-44-203(4)