Section Ins 1811.01 - Transfer or Sale of Interest(a) When a transfer or sale of interest is proposed, the commissioner shall receive notice pursuant to RSA 420-D.(b) Such notice shall include: (1) A biographical affidavit, described in Ins 1803.01(c), for any proposed new officer, trustee, investor, owner with more than 5% ownership, or new executive director, or equivalent title, who is not an officer or trustee;(2) The most recent balance sheet and income statement of any party who is proposed to acquire an ownership interest of 5% or more, if the transfer or sale of interest involves less than 50% but more than 5% of the assets of the continuing care facility;(3) A detailed account of any changes that will occur in the debt structure of the continuing care facility or the continuing care CCRC, and(4) A detailed account of the resulting debt service requirements, with notes explaining how these debt service requirements differ from the requirements in existence prior to the proposed transfer or sale.(c) When RSA 420-D:13, II requires a new CCRC to apply for a certificate of authority, the application procedures of Ins 1803 shall apply.N.H. Admin. Code § Ins 1811.01
#7014, eff 7-1-99; EXPIRED: 7-1-07
New. #8991, eff 10-1-07
Amended by Volume XXXV Number 45, Filed November 12, 2015, Proposed by #10944, Effective 10/8/2015, Expires 10/8/2025.