LIC 9271 Form 9-1: Calculation Of Refund Reserve Amount

The LIC 9271 Form 9-1 is used to calculate the refund reserve amount for facilities regulated by the California Department of Social Services. This form considers factors such as the type of facility, the agreements with residents, and applicable regulations to determine the appropriate refund reserve amount that needs to be set aside. It ensures that facilities have sufficient reserves to meet refund obligations to residents upon termination of their agreements. By completing this form, facility operators ensure accurate calculation and allocation of refund reserves, promoting fair and responsible financial practices.