NAC449.74461. Finances of patient: System for maintenance and accounting.

     1. A facility for skilled nursing:

     (a) Shall not require a patient to deposit any amount of money with the facility to be held by the facility on behalf of the patient.

     (b) Shall hold, safeguard, manage and account for money deposited with the facility on behalf of a patient if requested to do so in writing by the patient, in accordance with the provisions of this section and NAC 449.74463.

     2. If money held by a facility for skilled nursing on behalf of a patient is greater than $50, the money must be maintained in a financial institution in an account that:

     (a) Bears interest;

     (b) Is separate from the facility’s operating accounts; and

     (c) Credits all interest earned on the money in the account to the account.

     3. If money held by a facility for skilled nursing on behalf of a patient is not more than $50, the money must be maintained in:

     (a) A financial institution in an account that bears interest;

     (b) A financial institution in an account that does not bear interest; or

     (c) A petty cash fund.

     4. A facility for skilled nursing shall establish and maintain a system that provides a complete and separate accounting of the money held by the facility on behalf of a patient that is prepared according to generally accepted principles of accounting. The system must prohibit the commingling of the patient’s money with the facility’s money or the money of any person other than another patient. An accounting must be made available to the patient on a quarterly basis and upon the request of the patient or his or her legal representative.

     5. A facility for skilled nursing shall obtain a surety bond or provide to the Bureau other assurances that are satisfactory to the Bureau to ensure the security of all money held by the facility on behalf of its patients.

     6. A facility for skilled nursing shall, within 30 days after the death of a patient who has deposited money with the facility to hold on his or her behalf, deliver the money and a final accounting to the proper court or person administering the patient’s estate.

     (Added to NAC by Bd. of Health by R051-99, eff. 9-27-99)