Arizona Laws 44-6953. Maintaining valid registration
A. To maintain a valid registration, within one hundred eighty days following the conclusion of each fiscal year each provider shall file its annual financial report for the previous fiscal year with the department. If a provider fails to timely file its annual financial report, the department shall notify the provider in writing. If the provider fails to file its annual financial report within thirty days after the date of the written notice, the department shall cancel the provider’s registration and send written notice of the cancellation to the provider and the consumer fraud section of the attorney general’s office.
Terms Used In Arizona Laws 44-6953
- 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.
- Audited financial report: means a financial report on a provider that is prepared by an independent certified public accountant. See Arizona Laws 44-6951
- Department: means the department of insurance and financial institutions. See Arizona Laws 44-6951
- 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.
- Fraud: Intentional deception resulting in injury to another.
- Provider: means a person who provides lodging to seniors in a living unit pursuant to a senior residential entrance fee contract. See Arizona Laws 44-6951
- Writing: includes printing. See Arizona Laws 1-215
B. A provider shall also file with the department any amendments to its disclosure statement prescribed in section 44-6954, subsection D, paragraph 2 within fourteen days after making the amendment. The department shall notify the provider and the consumer fraud section of the attorney general’s office if the department finds that the provider is using a disclosure form or amended disclosure form that has not been filed with the department.
C. The department shall forward to the consumer fraud section of the attorney general’s office a copy of any provider’s audited financial report that contains a qualified opinion or a statement that the auditors have substantial doubt about the provider’s ability to continue as a going concern. The department shall notify the provider that the department has forwarded the financial report to the attorney general.