The office shall develop and maintain a formal system of monitoring borrowers, in order to assist the office in detecting at the earliest possible date those borrowers who are experiencing financial difficulties. This system shall include, but shall not be limited to, all of the following:
(a) A method of tracking the receipt of information that borrowers are required by law and regulatory agreement to submit to the office.
(b) A process for thoroughly reviewing borrowers’ financial statements, budgets, auditor’s management letters, and health facility utilization trends.
(c) Timely and structured site visits to insured facilities.
(Added by Stats. 1999, Ch. 848, Sec. 14. Effective January 1, 2000.)
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