Section 388-76-11070 - Management agreements - Resident funds(1) If the management agreement delegates day-to-day management of resident personal funds to the manager, the adult family home must: (a) Retain all fiduciary and custodial responsibility for funds that have been deposited with the adult family home by the resident;(b) Remain directly accountable to the residents and resident representatives for such funds; and(c) Ensure any party responsible for holding or managing resident's personal funds: (i) Is bonded or obtains insurance in sufficient amounts to specifically cover losses of resident funds;(ii) Provides proof of bond or insurance; and(iii) Provides proof of payment of the bond or insurance premium.(2) If responsibilities for the day-to-day management of the resident funds are delegated to the manager, the manager must: (a) Give the adult family home a monthly accounting of the residents' funds;(b) Meet all legal requirements related to holding, and accounting for, resident funds; and(c) Comply with all requirements under this chapter relating to residents rights and financial affairs.Wash. Admin. Code § 388-76-11070
Statutory Authority: RCW 70.128.040. 10-03-064, § 388-76-11070, filed 1/15/10, effective 2/15/10.