Michigan Administrative Code › Department - Licensing and Regulatory Affairs › Bureau of Community and Health Systems › Homes for the Aged Facilities › Adult Foster Care Family Homes Licensing Rules › Section R. 400.1421 - Handling of resident funds and valuables

Current through Vol. 24-12, July 15, 2024
Rule 21.
(1) A
				  licensee may accept a resident's funds and valuables for safekeeping, to be
				  held in trust with the licensee, upon request from a resident or the resident's
				  designated representative.
(2) All
				  resident funds and valuables which have been accepted by a licensee for
				  safekeeping shall be treated by the licensee as a trust obligation.
(3) A licensee shall have a resident's funds
				  and valuables transaction form completed and on file for each resident. A
				  department form shall be used unless prior authorization for a substitute form
				  has been granted in writing by the department.
(4) All resident funds and trust fund
				  accounts shall be kept separate and apart from all funds and monies of the
				  licensee.
(5) Except for trust fund
				  accounts, a licensee shall not accept for safekeeping money and valuables
				  exceeding a value of $200.00 for any resident in the home.
Trust fund accounts between the licensee and the resident
					 are subject to a $1,500.00 limitation.
(6) All trust fund account transactions shall
				  require the signature of the resident or the resident's designated
				  representative and the licensee or prior written approval from the resident or
				  resident's designated representative.
(7) A resident's account shall be individual
				  to the resident. A licensee shall be prohibited from having any ownership
				  interest in a resident's account and shall verify such in a written statement
				  to the resident or the resident's designated representative.
(8) A licensee, responsible person, and
				  members of the licensee's or responsible person's family shall not borrow money
				  or valuables from a resident, with or without the consent of the resident. A
				  licensee shall further take reasonable precautions to assure the prohibition of
				  financial transactions between a resident and other occupants of the
				  home.
(9) A licensee shall obtain
				  prior written approval from a resident and his or her designated representative
				  before charges are made to a resident's account.
(10) Charges against the resident's account
				  shall not exceed the agreed price for the services rendered and goods furnished
				  or made available by the home to the resident.
(11) A licensee shall provide a complete
				  accounting of all resident funds and valuables held for safekeeping and in
				  trust fund accounts or paid to the home to the resident or to his or her
				  designated representative on a quarterly basis. A receipt for resident
				  expenditures shall be maintained by the licensee and shall be provided to the
				  resident or designated representative upon request. The accounting of a
				  resident's funds and valuables held for safekeeping or paid to the home shall
				  also be provided, upon the resident's or designated representative's request,
				  not later than 5 banking days following the request and at the time of the
				  resident's discharge from the home.
(12) A licensee shall return the full amount
				  of funds and valuables remaining in the account to the resident or his or her
				  designated representative not later than 5 banking days following the request
				  or date of discharge.
(13) A
				  licensee shall report the death of a resident in writing to the public
				  administrator of the Michigan Department of Attorney General, 1800 Michigan
				  Plaza Building, 1200 Sixth Street, Detroit, Michigan 48226, not later than 10
				  calendar days following the death of the resident.