New Jersey Administrative Code › Title 8 - HEALTH › Chapter 36 - STANDARDS FOR LICENSURE OF ASSISTED LIVING RESIDENCES, COMPREHENSIVE PERSONAL CARE HOMES, AND ASSISTED LIVING PROGRAMS › Subchapter 5 - GENERAL REQUIREMENTS › Section 8:36-5.3 - Transfer of ownership

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Prior to transferring ownership of a facility
				or program, the prospective new owner shall submit an application to the Certificate
				of Need and Licensing Program, including the following items:
1. The transfer of ownership fee of $ 1,500, in
				accordance with N.J.A.C.
				8:36-2.2(i);
2. A cover letter stating the applicant's intent
				to become the licensed operator of the facility and identification of the facility
				by name, address, county, and number and type of licensed beds;
3. A description of the proposed transaction
				including:
i. Identification of the current
				owner(s) (the "seller");
ii.
				Identification of 100 percent of the proposed new owner, including the names and
				addresses of all principals (individuals and/or entities with 10 percent or greater
				ownership), and for non-profits the names and addresses of the members of the
				Board;
iii. A copy of organizational
				charts, including parent companies and wholly owned subsidiaries, if
				applicable;
iv. A copy of the agreement
				of sale or letter of intent, signed by both parties, and if applicable, any lease or
				management agreements; and
v. Disclosure
				of any licensed health care facilities owned, operated, or managed in New Jersey or
				any other state. If facilities are owned, operated or managed in other states,
				letters from the regulatory agencies in each of the respective states, verifying
				that the facilities have operated in substantial compliance during the last 12-month
				period and have had no enforcement actions during that period of time, shall be
				included in the application.
4. Approval of a transfer of ownership is
				contingent upon a review of the applicant's track record in accordance with
				N.J.A.C.
				8:33-4.10 and
				8:43E-5.1.
5. Approval of a transfer of ownership is
				contingent upon payment of all outstanding State penalties issued by the Department
				against the current owner, or written verification by the applicant that the
				applicant will assume responsibility for payment of such State penalties.
6. When a transfer of ownership application has
				been reviewed and deemed acceptable, an approval letter from the Certificate of Need
				and Licensing Program shall be sent to the applicant along with licensure
				application forms and the licensure fee request.
7. Within five working days after the transaction
				has been completed, the applicant shall submit the following documents to the
				Certificate of Need and Licensing Program:
i.
				Completed licensure application forms and the licensure fee;
ii. A notarized letter stating the date when the
				transaction occurred; and
iii. A
				certificate of continuing occupancy from the local authority or a letter from the
				local authority verifying a policy of not issuing any such document for changes of
				ownership.