Section 1780.2.
1780.2. (a) A deposit may be paid in one or several payments, at or after the time the parties enter into the deposit agreement. A deposit shall be paid by cash or cash equivalent, jointly payable to the applicant and the escrow agent or depository. Possession and control of any deposit agreement shall be transferred […]
Section 1780.4.
1780.4. (a) All deposit agreements between the applicant and the depositor shall be in writing and shall contain all information required by this section. (b) All deposit agreement forms shall be approved by the department prior to their use. (c) The requirements of this chapter and Chapter 3.2 (commencing with Section 1569) shall be the […]
Section 1781.
1781. (a) All deposits, excluding processing fees, shall be placed in an escrow account. All terms governing the deposit escrow account shall be approved in advance by the department. (b) The deposit escrow account shall be established by an escrow agent and all deposits shall be deposited in a depository located in California and approved […]
Section 1781.2.
1781.2. (a) All deposits shall be delivered to the escrow agent and deposited into the deposit escrow account within five business days after receipt by the applicant. The deposit escrow account shall be accounted for in a separate escrow account. (b) The applicant shall provide, with all deposits delivered to the escrow holder, a copy […]
Section 1781.4.
1781.4. The deposit escrow account agreement between the applicant and the escrow agent shall include all of the following: (a) The amount of the processing fee. (b) A provision requiring that all deposits shall be placed into the deposit escrow account upon delivery. (c) A provision requiring that monthly progress reports be sent by the […]
Section 1781.6.
1781.6. All changes to a deposit agreement or deposit escrow account agreement form shall be submitted to, and approved by, the department before use by the applicant. (Amended by Stats. 2000, Ch. 820, Sec. 37. Effective January 1, 2001.)
Section 1781.8.
1781.8. (a) Deposits held in escrow shall be placed in an interest bearing account or invested as provided under subdivision (e) of Section 1781. (b) Interest, income, and other gains derived from deposits held in a deposit escrow account may not be released or distributed from the deposit escrow account except upon written approval of […]
Section 1781.10.
1781.10. No deposit or any other asset held in a deposit escrow account, shall be encumbered or used as collateral for any obligation of the applicant or any other person, unless the applicant obtains prior written approval from the department for the encumbrance or use as collateral. The department shall not approve any encumbrance or […]
Section 1782.
1782. (a) An applicant shall not begin construction on any phase of a continuing care retirement community without first obtaining a written acknowledgment from the department that all of the following prerequisites have been met: (1) A completed application has been submitted to the department. (2) A permit to accept deposits has been issued to the applicant or, […]
Section 1783.
1783. (a) (1) An applicant proposing to convert an existing building to continuing care use shall comply with all the application requirements in Section 1779.4 identified by the department as necessary for the department to assess the feasibility of the proposed continuing care retirement community or conversion. (2) If the proposed continuing care retirement community […]