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Current as of May 05, 2022 | Updated by FindLaw Staff
The provider disclosure statement shall:
(1) describe any provisions the provider made or will make to provide reserve funding or security to enable the provider to fully perform the provider's obligations under a continuing care contract, including:
(a) the establishment of an escrow account, trust, or reserve fund, and the manner in which the provider will invest the account, trust, or reserve funds; and
(b) the name and experience of an individual in the provider's direct employment who will make the investment decisions;
(2) contain a provider financial statement, prepared in accordance with generally accepted accounting principles, and audited by an independent certified public account, that includes:
(a) a balance sheet as of the end of the most recent fiscal year;
(b) an income statement for each of the three most recent fiscal years; and
(c) a cash flow statement for each of the three most recent fiscal years.
Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-44-307. Disclosure statement--Contents--Financial information - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-44-307/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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