NAC449.671. Financing; liability insurance.

     1. Each facility shall:

     (a) Have a sound plan for financing which assures sufficient funds to provide proper care for residents and to carry out the stated purposes, programs and services;

     (b) If it is a new facility, have reasonable expectations of sufficient funds to carry it through the first 4 months of operation and be able to furnish evidence to that effect;

     (c) Maintain a recognized financial accounting and reporting system which fulfills all requirements established by the Commissioner of Insurance pursuant to chapter 449 of NRS.

     2. Liability insurance is required in amounts appropriate for the protection of residents, employees, volunteers and visitors to the facility. A certificate of insurance must be furnished to the Division as evidence that the policy is in force. Each insurance policy must contain an endorsement providing for 30 days notice to the Division of Public and Behavioral Health, 4150 Technology Way, Suite 300, Carson City, Nevada 89706, before the effective date of cancellation or the nonrenewal of the policy.

     [Bd. of Health, Intermediate Care Facilities Reg. §§ 3.9-3.10.2, eff. 12-5-75]