(a) This section applies only to a facility whose contracts offer future guarantees of long-term nursing care that develop current actuarial liabilities.
(b) A facility subject to this section shall file with the commissioner actuarial reviews at least once every five years.
(c) Repealed by Acts 2025, 89th Leg., R.S., Ch. 836 (S.B. 1522), Sec. 18, eff. January 1, 2026.
(d) The commissioner may require an actuarial review of a facility more often than once every five years if:
(1) the facility leases from a third party any portion of the grounds on which the facility is located or buildings in which the facility operates; or
(2) in the opinion of the commissioner, the facility exhibits conditions of financial instability warranting an earlier review.