                                 CODE OF VIRGINIA

FINANCIAL INSTABILITY (§ 38.2-4925)

The Commission may act as authorized by § 38.2-4931 to protect residents,
prospective residents, participants, or prospective participants when the
Commission determines that:

1. A provider has been or will be unable to meet the pro forma income or cash
flow projections previously filed by the provider and such failure may endanger
the ability of the provider to perform fully its obligation pursuant to its
continuing care contracts or community-based continuing care contracts; or

2. A provider is bankrupt, insolvent, under reorganization pursuant to federal
bankruptcy laws, or in imminent danger of becoming bankrupt or insolvent.

HISTORY: 2012, cc. 208, 303.