§346C-1 Definitions. As used in this chapter: “Activities of daily living” means at least bathing, continence, dressing, eating, toileting, and transferring. “Board of trustees” means the board of trustees charged with the general administration of this program under section 346C-3. “Long-term care services” means a broad range of supportive services needed by individuals with physical […]
§346C-2 Long-term care financing program; establishment. There is established the long-term care financing program, which shall be placed with the department of budget and finance for administrative purposes. The purpose of this program shall be to provide a universal and affordable system of providing for long-term care. The program shall be administered by a board […]
§346C-3 Composition of the board. (a) The board of trustees of the long-term care financing program shall consist of five regular members and one ex officio[,] nonvoting member to be appointed by the governor as provided in section 26-34; provided that: (1) The terms of members shall be six years; and (2) The initial appointments […]
§346C-4 Fiduciary and other obligations of the board of trustees. (a) The board of trustees shall: (1) Have and maintain a fiduciary obligation for the program; (2) Discharge their duties solely in the best interest of the program; (3) Not knowingly participate in or undertake to conceal an act or omission of a trustee, when […]
§346C-5 REPEALED. L 2011, c 124, §54.
§346C-6 Investments. (a) With the advice of the director of finance to ensure investment soundness, the board of trustees shall invest moneys in the long-term care benefits fund solely in: (1) Obligations of any of the following classes: (A) Obligations issued or guaranteed as to principal and interest by the United States or by any […]
§346C-7 Annual audits of the long-term care benefits fund. The auditor shall conduct an audit of the long-term care benefits fund annually for the first three years from the date the fund first receives deposits, and every three years thereafter; provided that the auditor may modify the time periods after the first three years as […]
§346C-8 Qualified long-term care services. (a) To be eligible for benefit payments for long-term care services under the program, a qualifying individual shall: (1) Need assistance with two or more activities of daily living; or (2) Be afflicted with Alzheimer’s disease or dementia. (b) An individual qualifying for long-term care services under the program shall […]
