New York Codes, Rules and Regulations
Title 10 - DEPARTMENT OF HEALTH
Chapter V - Medical Facilities
Subchapter A - Medical Facilities-minimum Standards
Article 8 - New York State Annual Hospital Report
Part 441 - Definitions
Section 441.57 - Capital lease
Universal Citation: 10 NY Comp Codes Rules and Regs ยง 441.57
Current through Register Vol. 46, No. 39, September 25, 2024
(a) A lease which meets one of the following four criteria:
(1) The present value of the minimum lease
payments is 90 percent or more of the fair value of the property to the
lessor.
(2) The lease term is 75
percent or more of the leased property's estimated economic life.
(3) The lease contains a bargain (less than
fair value) purchase option.
(4)
Ownership is transferred to the lessee by the end of the lease term.
(b) See FASB Statement No. 13 for further details.
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