R590-273-3. Definitions

Terms used in this rule are defined in Sections 31A-1-301 and 31A-44-102. Additional terms are defined as follows: (1) "Financial hardship," under Subsection 31A-44-401(3), means a resident of a continuing care facility: (a) with regular monthly expenses exceeding the resident's regular monthly income; and (b) with net assets of less than $25,000, over and above the resident's entrance fee at the continuing care facility. (2) "Qualified actuary" means: (a) a member of the American Academy of Actuaries; (b) a member of the Society of Actuaries; or (c) a person recognized by the commissioner as having comparable training or experience.