Arizona Laws 20-1807. Annual report; civil penalty
A. Each year not later than ninety days after the last day of the provider‘s fiscal year, each provider shall file with the department an annual report accompanied by the fee prescribed in section 20-167. The annual report shall include the information required by section 20-1802, subsection B, except that the information required by section 20-1802, subsection B, paragraphs 5, 15 and 17 shall be filed in accordance with the provisions of subsection C of this section. The annual report need not include the information required by section 20-1802, subsection B, paragraph 16. The annual report shall be made on forms provided by the department. The annual report and any amendment to the annual report shall be signed under oath by the chief executive officer of the provider. For good cause, the director may extend the due date for a provider to file its annual report and pay the required fee.
Terms Used In Arizona Laws 20-1807
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- department: means the department of insurance and financial institutions. See Arizona Laws 20-101
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Manager: means a corporation, partnership, association, joint stock company, trust, or any other unincorporated organization that is contracted with to manage the residential section or health-related section, or both, of a life care facility. See Arizona Laws 20-1801
- Permit: means a permit to enter into life care contracts issued by the department. See Arizona Laws 20-1801
- Promoter: means the primary person who is employed to consult or to promote the establishment of a life care facility. See Arizona Laws 20-1801
- Provider: means a person who provides services pursuant to a life care contract. See Arizona Laws 20-1801
- Resident: means a person who enters into a life care contract with a provider or who is designated, in a life care contract, to be a person provided with services, board and lodging in a living unit or at a facility. See Arizona Laws 20-1801
- Trustee: A person or institution holding and administering property in trust.
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
B. A provider shall amend its annual report on file with the department at any time, without the payment of any additional fee, if an amendment is necessary to prevent the annual report from containing a material misstatement of fact or omitting to state a material fact required to be stated.
C. Any provider, manager or promoter shall comply with the requirements of this section as follows:
1. Information required by section 20-1802, subsection B, paragraph 5 shall be filed:
(a) Immediately on the substitution or installation of a member of the board of directors or an officer, trustee or managing partner different from the information disclosed in the provider’s application or submission pursuant to subdivision (b).
(b) Every three years after the initial filing of the biographical affidavit by the provider.
2. Certified financial statements required by section 20-1802, subsection B, paragraph 15 for the two most recent fiscal years shall be filed with the annual report by the provider and manager only. The certified financial statements of the promoter shall be filed with the annual report unless the promoter is not currently employed by the provider.
3. The actuarial study required by section 20-1802, subsection B, paragraph 17 shall be filed by the provider on a triennial basis beginning with the year in which resident occupancy began at the facility or contract holders began receiving services pursuant to the permit issued to the provider. The director may require a provider to file an actuarial study on a more frequent basis if the director deems it necessary and may adjust subsequent triennial filings accordingly.
D. A provider shall not change the fiscal year end date disclosed pursuant to section 20-1802, subsection B, paragraph 4 without the prior approval of the director. The director shall approve the change if the commissioner of the internal revenue service grants a request for a change of a fiscal year pursuant to 26 United States Code § 442.
E. Assets shall be reported at values determined pursuant to sections 20-511 through 20-515. If the director deems it necessary to value any real estate the director may employ one or more competent appraisers for that purpose, and the reasonable expense shall be borne by the provider.
F. The director may assess and collect a civil penalty of not more than twenty-five dollars for each day the annual report is late against a provider who fails to file the annual report timely accompanied by the required fee.