AN ACT REQUIRING NURSING HOME OWNERSHIP TRANSPARENCY, FINANCIAL SAFEGUARDS PROTECTING NURSING HOME OPERATIONS AND PROPERTY AND PROHIBITING REQUIRED ARBITRATION AGREEMENTS.

Summary

The legislation requires nursing homes to annually report detailed ownership and financial information to the state, post a performance bond equal to 90 days of operating costs, and prohibit any arbitration clause as a condition of admission or care. It is intended to increase transparency, protect residents’ rights, and ensure the financial stability of facilities.

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