LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeHealth and Safety CodeDiv. 107Pt. 6Ch. 1Art. 2§ 129087 Borrower Financial Monitoring System

§ 129087 Borrower Financial Monitoring System

Health and Safety Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 129087 Borrower Financial Monitoring System

Key Takeaways

  • •The government keeps an eye on people who borrow money to make sure they're doing okay financially.
  • •They check if borrowers send in the right papers on time, like money reports and budgets.
  • •They visit the places that got loans to see how things are going in person.
  • •If someone is struggling with money, they want to find out early to help fix problems.

Example

A small hospital takes a loan from the government to buy new equipment.

The government will check if the hospital sends its money reports on time. They might also visit the hospital to see if everything is running smoothly. If the hospital starts losing money, the government will notice early and might help or step in before things get worse.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 129087 Borrower Financial Monitoring System

The department shall develop and maintain a formal system of monitoring borrowers, in order to assist the department in detecting at the earliest possible date those borrowers who are experiencing financial difficulties. This system shall include, but shall not be limited to, all of the following: (a)  A method of tracking the receipt of information that borrowers are required by law and regulatory agreement to submit to the department. (b)  A process for thoroughly reviewing borrowers’ financial statements, budgets, auditor’s management letters, and health facility utilization trends. (c)  Timely and structured site visits to insured facilities. (Amended by Stats. 2021, Ch. 143, Sec. 242. (AB 133) Effective July 27, 2021.)

Last verified: January 23, 2026

Key Terms

agreementhealthportthe california departmenteffective julyinformationmanagementfacility

Related Statutes

  • § 129045 Program Financial Status Report
  • § 1439.5 Healthcare Facility Data System
  • § 128770 Health Facility Reporting Penalties
  • § 128805 Contracting Authority
  • § 129020 Health Facility Loan Insurance

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Health and Safety Code. Section 129087.
View Official Source