The Massachusetts Patient Trust Funds Surety Bond is required by the Secretary of the Department of Health and Human Services of the Commonwealth of Massachusetts. The bond states that the bond holder shall:
- Well and truly hold separately and in trust all patients’ funds deposited with Principal as, or as the operator of, a nursing home or home for the aged; and,
- shall administer said funds on behalf of said patients in the manner directed by the
depositors thereof; and,
- shall render true and complete accounts to the patients, the depositors and the
Obligee when requested; and,
- upon termination of each said deposit, shall account for all funds received thereunder, expended and held on hand
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