Rhode Island General Laws 23-17-65. Transparency of ownership in healthcare facilities
(a) Any operator or operators of a nursing facility shall file with the department of health information of ownership including, but not limited to, the following:
(1) The name, address, and a description of the interest held by each of the following persons:
(i) Any person who, directly or indirectly, beneficially owns any interest in the land on which the facility is located;
(ii) Any person who, directly or indirectly, beneficially owns any interest in the building in which the facility is located;
(iii) Any person who, directly or indirectly, beneficially owns any interest in any mortgage, note, deed of trust, or other obligation secured, in whole or in part, by the land on which or building in which the facility is located;
(iv) Any person who, directly or indirectly, has any interest as lessor or lessee in any lease or sub-lease of the land on which or the building in which the facility is located;
(v) Any person who is the ultimate and actual owner of the land, building, mortgages, and leases of the nursing facility and any lessee of the land or building; and
(vi) The operator or operators of the nursing facility.
(2) If any person named in subsection (a)(1) of this section is a partnership or limited liability company, then the name and address of each partner or member.
(3) If any person named in subsection (a)(1) of this section is a corporation, other than a corporation whose shares are traded on a national securities exchange or are regularly quoted in an over-the-counter market or which is a commercial bank, savings bank, or savings and loan association, then the name and address of each officer, director, stockholder and, if known, each principal stockholder and controlling person of such corporation.
(4) If any corporation named in subsection (a)(1) of this section is a corporation whose shares are traded on a national securities exchange or are regularly quoted in an over-the-counter market or which is a commercial bank, savings bank, or savings and loan association, then the name and address of the principal executive officers and each director and, if known, each principal stockholder of such corporation.
Terms Used In Rhode Island General Laws 23-17-65
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Director: means the director of the Rhode Island state department of health. See Rhode Island General Laws 23-17-2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means any individual, trust or estate, partnership, corporation (including associations, joint stock companies, and insurance companies), state, or political subdivision or instrumentality of a state. See Rhode Island General Laws 23-17-2
(b) In order to promote greater transparency, the department of health shall, upon request, furnish to the public all documents and information received pursuant to this section.
(c) As used in this section, the term “operator” means the licensee and also includes the complete ownership entity above the actual entity holding the license.
History of Section.
P.L. 2022, ch. 299, § 1, effective June 29, 2022; P.L. 2022, ch. 300, § 1, effective June 29, 2022.