Section 1792.7.
1792.7. (a) The Legislature finds and declares all of the following: (1) In continuing care contracts, providers offer a wide variety of living accommodations and care programs for an indefinite or extended number of years in exchange for substantial payments by residents. (2) The annual reporting and reserve requirements for each continuing care provider should include a report […]
Section 1788.4.
1788.4. (a) During the cancellation period, the provider shall pay all refunds owed to a resident within 14 calendar days after a resident makes possession of the living unit available to the provider. (b) After the cancellation period, any refunds due to a resident under a continuing care contract shall be paid within 14 calendar days after […]
Section 1792.8.
1792.8. (a) For purposes of this article, “actuarial study” means an analysis that addresses the current actuarial financial condition of a provider that is performed by an actuary in accordance with accepted actuarial principles and the standards of practice adopted by the Actuarial Standards Board. An actuarial study shall include all of the following: (1) An […]
Section 1789.
1789. (a) A provider shall notify the department and obtain its approval before making any changes to any of the following: its name; its business structure or form of doing business; the overall management of its continuing care retirement community; or the terms of its financing. (b) The provider shall give written notice of proposed […]
Section 1792.9.
1792.9. (a) All providers shall file annually with the department a financial report disclosing key financial ratios and other key indicators in a form determined by the department. (b) The department shall issue a “Key Indicators Report” form to providers that shall be used to satisfy the requirements of subdivision (a). The Key Indicators Report shall require […]
Section 1789.1.
1789.1. (a) Before executing a deposit agreement or continuing care agreement, or receiving any payment from a depositor or prospective resident, a provider shall deliver to the other parties in the deposit or continuing care agreement a disclosure statement in the form prescribed by the department. (b) The department shall issue a disclosure statement form […]
Section 1789.2.
1789.2. (a) A provider shall provide the department with written notice at least 90 calendar days prior to closing any transaction that results in an encumbrance or lien on a continuing care retirement community property or its revenues. (b) The written notice required by this section shall include all of the following: (1) A description […]
Section 1789.4.
1789.4. (a) A provider for a continuing care retirement community shall obtain approval from the department before consummating any sale or transfer of the continuing care retirement community or any interest in that community, other than sale of an equity interest in a unit to a resident or other transferor. (b) The provider shall provide […]
Section 1789.6.
1789.6. A provider shall record with the county recorder a “Notice of Statutory Limitation on Transfer” for each community as required by subdivision (aa) of Section 1779.4 and Section 1786. (Amended by Stats. 2000, Ch. 820, Sec. 56. Effective January 1, 2001.)
Section 1789.8.
1789.8. Each provider shall obtain and maintain in effect insurance or a fidelity bond for each agent or employee, who, in the course of his or her agency or employment, has access to any substantial amount of funds. This requirement is separate from the bonding requirements of residential care facility for the elderly regulations. (Amended […]