Disclosure statement -- Contents -- Financial information.
Utah Code § 31A-44-307
in effect31A-44-307. Disclosure statement -- Contents -- Financial information.
The provider disclosure statement shall:
(1) describe any provisions the provider made or will make to provide reserve funding or security to enable the provider to fully perform the provider's obligations under a continuing care contract, including:
(a) the establishment of an escrow account, trust, or reserve fund, and the manner in which the provider will invest the account, trust, or reserve funds; and
(b) the name and experience of an individual in the provider's direct employment who will make the investment decisions;
(2) contain a provider financial statement, prepared in accordance with generally accepted accounting principles, and audited by an independent certified public account, that includes:
(a) a balance sheet as of the end of the most recent fiscal year;
(b) an income statement for each of the three most recent fiscal years; and
(c) a cash flow statement for each of the three most recent fiscal years.
Enacted by Chapter 270, 2016 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title31A/Chapter44/31A-44-S307.html?v=C31A-44-S307_2016051020160510Fetched: 10/26/2026