Okla. Stat. tit. 63, § 63-1-1980
This is the official text of Okla. Stat. tit. 63, § 63-1-1980, part of Oklahoma’s Stat. tit. 63, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 63,." Browse the sections below, each linked to its official government source.
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Use of fee proceeds for business expenses
Official statutory text
The owner of any nursing home, assisted living center,
residential care home, continuum of care facility, independent
living facility, life care community, long-term care facility or any
other facility offering similar services which may or may not be
subject to the licensing requirements of the State Department of
Health shall be authorized to use the proceeds from any fees
required by and paid to the facility unless named and specifically
prohibited by the Long-Term Care Insurance Act for business
expenses, including the payment of principal, interest or costs of
borrowing related to debt incurred for purposes of capital asset
acquisition or the improvement or expansion of the facility.
residential care home, continuum of care facility, independent
living facility, life care community, long-term care facility or any
other facility offering similar services which may or may not be
subject to the licensing requirements of the State Department of
Health shall be authorized to use the proceeds from any fees
required by and paid to the facility unless named and specifically
prohibited by the Long-Term Care Insurance Act for business
expenses, including the payment of principal, interest or costs of
borrowing related to debt incurred for purposes of capital asset
acquisition or the improvement or expansion of the facility.
Status: in_force · Read it on the official government site
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