N.J. Admin. Code § 5:15-3.11

Current through Register Vol. 57, No. 1, January 6, 2025

Section 5:15-3.11 - Resident fund accounts

(a) The licensee may offer a resident an opportunity to place personal funds in a facility-maintained account;

(b) The licensee shall not require a resident to maintain a personal fund account at the facility against the resident's wish, unless it is required by the facility's rules;

(c) The licensee shall provide for the safekeeping and accountability of resident funds;

(d) The licensee shall hold resident funds in trust for the sole use of the resident and shall not use these funds for any other purpose;

(e) Resident funds shall not be commingled with the personal funds of the licensee or the operating funds of the facility or become an asset of the licensee;

(f) The resident may terminate the personal fund account at any time unless it is a condition of occupancy, in which case termination of the personal fund account is a cause for removal;

(g) No service fee shall be charged by the licensee for maintaining a fund account for a resident;

(h) Each resident shall have the opportunity, during regular business hours, to examine his or her personal fund account records upon request.

N.J. Admin. Code § 5:15-3.11