Sec. 350.2. Reserves

Latest version.

After release of funds held in escrow pursuant to Public Health Law section 4610, the operator of a continuing care retirement community operating under a certificate of authority pursuant to Public Health Law article 46 shall maintain a reserve liability for amounts due and unpaid and a reserve liability for estimated future capital, operating and refund expenses provided for under the terms of the continuing care retirement contracts and continuing care at home contracts.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');