3.As a condition of licensure under P.L.1971, c.136 (C.26:2H-1 et al.), a general hospital shall:
a.provide monthly unaudited financial information and annual audited financial statements to the Department of Health, and such other financial information as the department may request; and
b.permit the Commissioner of Health, or a monitor appointed by the commissioner, as applicable, to oversee its financial operations, and, if the commissioner determines that the hospital is at risk of being in financial distress or is in financial distress based on criteria specified by regulation, participate in the development and implementation of a corrective plan to resolve the hospital's financial difficulties, pursuant to section 2 of P.L.2008, c.58 (C.26:2H-5.1a).
L.2008, c.58, s.3; amended 2012, c.17, s.160.