Iowa Admin. Code r. 191-102.7

Current through Register Vol. 47, No. 6, September 18, 2024

Rule 191-102.7 - Records

(1) A licensed facility or provider shall keep accurate accounts, books and records concerning transactions regulated under Iowa Code chapter 523D.

(2) A licensed facility's or provider's accounts, books and records shall include:

a. Copies of all contracts;

b. The name and address of each resident, prospective resident, or current or past contract holder;

c. Copies of disclosure statements, any amendments thereto, and any supporting documentation for the information included in the disclosure statements and annual disclosure statements pursuant to Iowa Code section 523D3.;

d. Copies of documents related to new construction as required by Iowa Code section 523D5.; and

e. The dates and amounts of all receipts and expenditures.

(3) A licensed facility or provider shall retain all required accounts, books and records pertaining to each resident or prospective resident contract for at least two years after the expiration of the specified period of time in the contract or for five years if required by Iowa Code section 523D3(3)..

(4) A licensed facility or provider shall make all accounts, books and records concerning transactions regulated under Iowa Code chapter 523D available to the commissioner for the purpose of examination.

(5) A licensed facility or provider discontinuing business in this state shall maintain its records until it furnishes the commissioner with proof satisfactory to the commissioner that the licensed facility or provider has discharged all obligations to contract holders in this state.

Iowa Admin. Code r. 191-102.7

Adopted by IAB November 23, 2016/Volume XXXIX, Number 11, effective 12/28/2016