Cal. Health & Safety Code § 129087
Insurable Loans and Applications Therefor
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2021
As of January 1, 2011
The office shall develop and maintain a formal system of monitoring borrowers, in order to assist the office in detecting at the earliest possible date those borrowers who are experiencing financial difficulties. This system shall include, but shall not be limited to, all of the following:
The department shall develop and maintain a formal system of monitoring borrowers, in order to assist the department in detecting at the earliest possible date those borrowers who are experiencing financial difficulties. This system shall include, but shall not be limited to, all of the following:
(a) A method of tracking the receipt of information that borrowers are required by law and regulatory agreement to submit to the office.
(a) A method of tracking the receipt of information that borrowers are required by law and regulatory agreement to submit to the department.
(b) A process for thoroughly reviewing borrowers’ financial statements, budgets, auditor’s management letters, and health facility utilization trends.
(b) A process for thoroughly reviewing borrowers’ financial statements, budgets, auditor’s management letters, and health facility utilization trends.
(c) Timely and structured site visits to insured facilities.
(c) Timely and structured site visits to insured facilities.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.