New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 10. Department of Health |
Chapter II. Administrative Rules and Regulations |
Subchapter L. Hospitals and Related Facilities |
Part 87. Nursing Home Company and Hospital Mortgage Loans |
Nursing Home Companies |
Sec. 87.11. Use of funds of the company
Latest version.
- Funds of a nursing home company shall not be used for any purpose other than the ordinary operation of the project, without the prior written approval of the State Department of Health. Company funds shall not be invested without the approval of the State Department of Health. No loans shall be made at any time.