La. Admin. Code tit. 48, § I-7267 - Client Funds
A. The
facility's admission agreement shall include the client's rights regarding
personal funds and list the services offered and charges, if any.
B. The facility shall offer safekeeping and
management of a clients funds. If a client chooses to entrust funds with the
facility, the facility shall obtain written authorization from the client
and/or his/her representative for the safekeeping and management of the
funds.
C. The facility shall:
1. provide each client with an account
statement on a quarterly basis with a receipt listing the amount of money the
facility is holding in trust for the client;
2. maintain a current balance sheet
containing all financial transactions to include the signatures of staff and
the client for each transaction;
3.
provide a list or account statement regarding personal funds upon request of
the client;
4. maintain a copy of
each quarterly account statement in the clients record;
5. keep the funds received from the client in
a separate interest-bearing account; and
6. not commingle the clients funds with the
facilitys operating account.
D. The facility shall develop, implement, and
follow written policies and procedures to protect client funds.
E. Unless otherwise provided by state law,
upon the death of a client, the facility shall provide the executor or
administrator of the client's estate or the clients representative, as agreed
upon in the admission agreement, with a complete account statement of the
client's funds and personal property of the client being held by the
facility.
F. A client with a
personal fund account managed by an FSTRA facility may sign an account
agreement acknowledging that any funds deposited into the personal account by,
or on the clients behalf, are jointly owned by the client and his legal
representative or next of kin. The account agreement shall state that:
1. the funds in the account shall be jointly
owned with the right of survivorship;
2. the funds in the account shall be used by,
for or on behalf of the client;
3.
the client or the joint owner may deposit funds into the account; and
4. the client or joint owner may endorse any
check, draft or other monetary instrument to the order of any joint owner, for
deposit into the account.
G. If a valid account agreement has been
executed by the client, upon the clients death, the facility shall transfer the
funds in the clients personal fund account to the joint owner within 30 days of
the clients death.
H. If a valid
account agreement has not been executed, upon the clients death, the facility
shall comply with the federal and state laws and regulations regarding the
disbursement of funds in the account and the properties of the deceased. The
facility shall abide by the procedures of the Louisiana Department of the
Treasury and the Louisiana Uniform Unclaimed Property Act for the handling of
funds of a deceased client that remain unclaimed.
I. The provisions of this Section shall have
no effect on federal or state tax obligations or liabilities of the deceased
clients estate. If there are other laws or regulations which conflict with
these provisions, those laws or regulations will govern over and supersede the
conflicting provisions.
J. A
termination date of the account and the reason for termination shall be
recorded on the clients participation file. A notation shall read, "to close
account." The endorsed cancelled check with check number noted on the ledger
sheet shall serve as sufficient receipt and documentation.
Notes
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