Utah Code 31A-44-315. Financial assessment
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(1) The department shall assess the financial condition of a provider no less than once per year.
Terms Used In Utah Code 31A-44-315
- Department: means the Insurance Department. See Utah Code 31A-1-301
- Facility: means a place in which a person provides continuing care pursuant to a continuing care contract. See Utah Code 31A-44-102
- Provider: means :(9)(a)(i) the owner of a facility;(9)(a)(ii) a person, other than a resident, that claims a possessory interest in a facility; or(9)(a)(iii) a person who enters into a continuing care contract with a resident or potential resident. See Utah Code 31A-44-102(2) The department may consider any relevant documents and information in performing an assessment.(3) A provider shall prepare and timely provide to the department documents and information requested by the department in connection with an assessment.(4) Department work papers created or relied upon in connection with an assessment are protected under Title 63G, Chapter 2, Government Records Access and Management Act.(5) The department may conduct any portion of an assessment at the provider’s facility during regular business hours if the department notifies the provider of the anticipated visit and assessment at least seven calendar days in advance.(6) The department shall prepare a written report of the assessment and provide a copy of the report to the provider within 28 days after the day on which the department completes the gathering of information necessary to complete the assessment.