New York Codes, Rules and Regulations
Title 10 - DEPARTMENT OF HEALTH
Chapter V - Medical Facilities
Subchapter A - Medical Facilities-minimum Standards
Article 9 - Residential Health Care Facility Uniform Reporting
Part 451 - Definitions
Section 451.197 - Obsolescence
Universal Citation: 10 NY Comp Codes Rules and Regs ยง 451.197
Current through Register Vol. 46, No. 39, September 25, 2024
The loss in usefulness of an asset, occasioned by the approach to the state of economic uselessness through progress of the arts; economic inutility arising from external causes; disappearing usefulness resulting from invention, change of style, legislation, or other causes having no physical relation to the object affected. It is distinguished from exhaustion, wear and tear, and deterioration, in that these terms refer to a functional loss arising out of a change in physical condition.
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