Section 664.0146. Use of a mechanism for financial assurance of both closure and long-term care.

  An owner or operator may satisfy the requirements for financial assurance for both closure and long-term care for one or more facilities by using an irrevocable trust fund, surety payment or performance bond, deposit with the department, escrow account, letter of credit, insurance or net worth test that meets the specifications for the mechanism in both ss. NR 664.0143 and 664.0145 . The amount of funds available through the mechanism shall be no less than the sum of funds that would be available if a separate mechanism had been established and maintained for financial assurance of closure and of long-term care.

History: CR 05-032 : cr. Register July 2006 No. 607 , eff. 8-1-06.