SB 535

SUBCOMMITTEE

1. Line 123, introduced, after the facility.

strike

the remainder of line 123, all of line 124, and through years. on line 125

insert

When an existing owner of a licensed nursing home or certified nursing facility sells or transfers ownership and the general liability and the professional liability insurance coverages are claims-made policies, then the purchaser shall purchase an extended reporting endorsement of two years after the date of sale, or purchase general liability and professional liability insurance coverage with coverage dates that begin two years prior to the date the existing owner's general liability and professional liability policies end. The purchaser shall provide evidence of compliance with this section to the Department.

SUBCOMMITTEE

2. Line 125, introduced, after to

strike

maintain such minimum insurance limits

insert

comply with the insurance coverages required