Iowa Admin. Code r. 191-24.11

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 191-24.11 - Amendments to the disclosure statement

(1) Amendments to the most recent disclosure statement may be filed with the division of insurance at any time. No filing fee is required.

(2) The filing shall be clearly marked to show changes from the most recent disclosure statement filed with the division or the filing shall be accompanied by a cover letter briefly outlining each of the sections of the disclosure statement that has been amended.

(3) The filing shall consist of either(a) two copies of the disclosure statement containing the revisions as it is distributed to a prospective resident (one copy marked to show changes) or(b) if the changes are made by an amendment or addendum, two copies of the revised pages.

(4) Changes in the operations of a provider or facility which shall require an amendment to a disclosure statement include, but are not necessarily limited to, the following:

a. New or additional mortgages, security interests, loan commitments, long-term financing arrangements, or leases, which transaction materially affects the real property of the facility unless the material terms of such transaction were specifically described as a proposed transaction in the disclosure statement.

b. The sale of the facility to a new provider.

c. Changes in the provider's tax status.

d. A material change in the form of the resident contract.

Iowa Admin. Code r. 191-24.11