§ 23-59-5 - Annual disclosure statements.
SECTION 23-59-5
§ 23-59-5 Annual disclosure statements.– (a) Within four (4) months following the end of the provider's fiscal year,each provider shall file with the department and make available by writtennotice to each resident at no cost an annual disclosure statement which shallcontain the information required for the initial disclosure statement set forthin § 23-59-3.
(b) The annual disclosure statement shall also be accompaniedby a narrative describing any material differences between:
(1) The prior fiscal year's pro forma income statement, and
(2) The actual results of operations during that fiscal year.
(c) The annual disclosure statement shall describe thedisposition of any real property acquired by the provider from residents of thefacility.
(d) In addition to filing the annual disclosure statement,the provider shall amend its currently filed disclosure statement at any othertime if, in the opinion of the provider, an amendment is necessary to preventthe disclosure statement from containing any material misstatement of fact orfailing to state any material fact required to be stated therein. Any amendmentor amended disclosure statement shall be filed with the department before it isdelivered to any resident or prospective resident and is subject to all therequirements of this chapter and the provider shall notify each resident of theexistence of the amendment or amended disclosure statement.
(e) If the department determines that the disclosurestatement does not comply with the provisions of this chapter, it shall havethe right to take action pursuant to § 23-59-16.