Md. Code Regs. 32.02.01.24

Current through Register Vol. 51, No. 24, December 2, 2024

Section 32.02.01.24 - Financial Review Committee

A. The Financial Review Committee shall review providers' financial matters referred to it by the Department.

B. The Secretary shall appoint seven members to the Committee from qualified applicants. The seven members shall consist of:

(1) Two persons knowledgeable in the field of continuing care;

(2) Two certified public accountants;

(3) One member of the financial community; and

(4) Two consumer members, preferably subscribers of continuing care facilities.

C. The term of a member is 3 years. The terms of members are staggered as required by the terms provided for members of the Committee on July 1, 1985. A member may serve consecutive terms.

D. The Committee shall elect its chairperson.

E. Committee members do not receive compensation, but are entitled to reimbursement for expenses incurred in the performance of their official duties as provided for in the State budget.

F. A Committee member, acting in good faith and within the scope of the duties of a Committee member, is immune from civil liability as a result of those acts.

G. A Committee member may not participate in a review of a continuing care provider's financial condition if that member has an interest in the provider as defined by the Maryland Public Ethics Law, State Government Article, Title 15, Annotated Code of Maryland.

H. The deliberations of the Committee and communications between the Department and the Committee, including but not limited to recommendations of the Committee, are confidential.

Md. Code Regs. 32.02.01.24

Regulations .24 adopted effective July 27, 1998 (25:15 Md. R. 1192)
Regulation .24B, H amended effective November 6, 2006 (33:22 Md. R. 1734)