Maryland § 10-421
Full text of Maryland Maryland Code § 10-421, with citation guidance and answers to common questions.
§ 10-421.
(a) (1) A provider shall compute operating reserves for each facility as of the end of the facility’s most recent fiscal year.
(2) When a provider files an application for a renewal certificate of registration, the provider shall show compliance with operating reserve requirements by including with the application:
(i) a letter to the Department from a certified public accountant that states the amount set aside; or
(ii) a certified financial statement that states the amount set aside.
(b) A provider may apply toward the operating reserves required by § 10-420(b) of this subtitle any reserves, except debt service reserves, that are maintained under applicable financing document requirements if the reserves are available to the provider to meet the facility’s operating expenses.
(c) For the purpose of computing a provider’s operating reserves, investments held to the credit of the reserves shall be calculated at their market value as of the end of the provider’s most recent fiscal year for which a certified financial statement is available.
Frequently Asked Questions About Maryland § 10-421
What does Maryland Code § 10-421 cover?
Section 10-421 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 10-421?
A common citation format is "Maryland Code § 10-421" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-421 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.