No dividend or other distribution of equity or net assets shall be paid by any provider after the Commissioner has determined that the provider is in a hazardous condition or has been determined to not be in satisfactory actuarial balance in an actuarial study filed with the Commissioner pursuant to G.S. 58-64A-210, or when the payment would have the effect of creating a hazardous condition in the provider or cause the provider to not be in satisfactory actuarial balance.
N.C. Gen. Stat. § 58-64A-15
Dividends and distributions
Known as the Continuing Care Retirement Communities Act
The act spans §§ 58-64A-1 to 58-64A-95 (77 sections).
2025-58, s. 2.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.