Section 554.901 – Short Title.

554.901 Short title. Sec. 1. This act shall be known and may be cited as the “continuing care community disclosure act”. History: 2014, Act 448, Eff. Apr. 2, 2015

Section 554.903 – Definitions; a to C.

554.903 Definitions; A to C. Sec. 3. As used in this act: (a) “Administrator” means a person that performs administrative or operational functions within or in connection with the continuing care community. (b) “Advertisement or marketing communication” means any disclosure statement, prospectus, pamphlet, circular, form letter, written or electronic advertisement, social media or other sales […]

Section 554.905 – Definitions; D to L.

554.905 Definitions; D to L. Sec. 5. As used in this act: (a) “Department” means the department of licensing and regulatory affairs. (b) “Disclosure statement” means a disclosure statement as required under section 19(1)(c) or that may be required by the department under section 25, as applicable. (c) “Entrance fee” means money paid in a […]

Section 554.907 – Definitions; M to O.

554.907 Definitions; M to O. Sec. 7. As used in this act: (a) “Member” means an individual who enters into a continuing care agreement with a continuing care community. (b) “Monthly service fee” means a monthly charge to a member for continuing care and not as rent, or a daily prorated portion thereof. (c) “Nonrefundable […]

Section 554.909 – Definitions; P to R.

554.909 Definitions; P to R. Sec. 9. As used in this act: (a) “Person” means an individual, partnership, corporation, association, governmental entity, or other legal entity. (b) “Publish” means to publicly issue or circulate by newspaper, mail, radio, television, or electronic means or otherwise to disseminate to the public. (c) “Refundable portion of an entrance […]

Section 554.911 – Definitions; S.

554.911 Definitions; S. Sec. 11. As used in this act: (a) “Sale of a continuing care agreement” means the execution of a continuing care agreement. (b) “Sell a continuing care agreement” means to secure the sale of a continuing care agreement. History: 2014, Act 448, Eff. Apr. 2, 2015

Section 554.913 – Continuing Care Community; Organization and Operation; Purpose; Member to Service in Advisory Capacity.

554.913 Continuing care community; organization and operation; purpose; member to service in advisory capacity. Sec. 13. (1) A continuing care community shall be organized and operated as either a for-profit or nonprofit entity. The entity’s purposes shall be limited to ownership, organization, and operation of the continuing care community. (2) Each continuing care community shall […]

Section 554.915 – Continuing Care Agreement; Registration or Exemption Required; Applicability to Written or Oral Arrangements; Offer or Sale; Conditions; Circumstances.

554.915 Continuing care agreement; registration or exemption required; applicability to written or oral arrangements; offer or sale; conditions; circumstances. Sec. 15. (1) Subject to subsections (3) and (4), a person shall not offer to enter into or enter into a continuing care agreement unless the person is registered or exempt from registration under this act. […]

Section 554.917 – Rules; Exemption; Variance; Area Not Considered Home for the Aged or Adult Foster Care Facility; Relationship Not Subject to Laws Between Landlord and Tenant.

554.917 Rules; exemption; variance; area not considered home for the aged or adult foster care facility; relationship not subject to laws between landlord and tenant. Sec. 17. (1) A continuing care community that is licensed in whole or part under article 17 of the public health code, 1978 PA 368, MCL 333.20101 to 333.22260, or […]

Section 554.919 – Initial Registration; Submission of Information; Missing or Unreliable Information; Cost of Investigation; Deposit of Payment; Registration of 2 or More Retirement Communities as Single Continuing Care Community; Consideration of Opinions, Appraisals, and Reports of Experts; Electronic Transmission of Application and Fee.

554.919 Initial registration; submission of information; missing or unreliable information; cost of investigation; deposit of payment; registration of 2 or more retirement communities as single continuing care community; consideration of opinions, appraisals, and reports of experts; electronic transmission of application and fee. Sec. 19. (1) A person seeking initial registration under this act shall submit […]

Section 554.921 – Incomplete Application; Notification; Order Approving or Denying Registration.

554.921 Incomplete application; notification; order approving or denying registration. Sec. 21. (1) Effective 60 days after the department receives a registration application, the application shall be considered to be complete unless the department proceeds as provided in subsection (2). (2) If, before the expiration of the 60-day period under subsection (1), the department notifies the […]

Section 554.923 – Effect of Order Approving or Filing Registration.

554.923 Effect of order approving or filing registration. Sec. 23. (1) The fact that an application for registration has been filed or approved does not constitute any of the following: (a) Approval of or a finding regarding the accuracy of any information in or accompanying the registration application. (b) A recommendation, approval, or other finding […]

Section 554.925 – Renewal of Registration; Application Form to Be Sent by Department.

554.925 Renewal of registration; application form to be sent by department. Sec. 25. (1) Except as otherwise provided in this act, the department shall renew the registration of a registrant that does all of the following: (a) On or before the expiration date printed on the registration, submits to the department an application for renewal […]

Section 554.927 – Application for Registration Renewal; Processing; Failure to Submit Application or Fee; Continuation of Current Registration; Failure to File Renewal Application.

554.927 Application for registration renewal; processing; failure to submit application or fee; continuation of current registration; failure to file renewal application. Sec. 27. (1) Subject to subsections (2) and (3), an application for renewal of registration shall be processed in the same manner as an initial registration application under section 21. (2) If, within 60 […]

Section 554.929 – Extension of Registration; Requirements; Fees.

554.929 Extension of registration; requirements; fees. Sec. 29. (1) The department may extend the term of an existing registration for a continuing care community for not more than 3 fiscal years if the department determines that all of the following requirements are met: (a) The continuing care community was registered under this act during the […]

Section 554.931 – Fees; Continuing Care Administration Fund; Creation; Disposition; Investment; Money Remaining at Close of Fiscal Year; Expenditures.

554.931 Fees; continuing care administration fund; creation; disposition; investment; money remaining at close of fiscal year; expenditures. Sec. 31. (1) The fee for filing an application for initial registration of the offer or sale of continuing care agreements or continuing care at home agreements is $250.00. If an application for registration is withdrawn before the […]

Section 554.933 – Reportable Changes; Amendment of Registration.

554.933 Reportable changes; amendment of registration. Sec. 33. (1) A registrant shall notify the department promptly in writing within 45 days of any reportable change with respect to the continuing care community measured semiannually. (2) A registrant shall submit to the department an application to amend a registration to address reportable changes. The disclosure statement […]

Section 554.935 – Delivery of Continuing Care Agreements, Emergency Plan, and Disclosure Statement; Availability of Feasibility Study.

554.935 Delivery of continuing care agreements, emergency plan, and disclosure statement; availability of feasibility study. Sec. 35. (1) A continuing care community shall deliver to a prospective member all continuing care agreements pertinent to the continuing care sought by the prospective member, the continuing care community emergency plan in case of power outage, and the […]

Section 554.937 – Disclosure Statement.

554.937 Disclosure statement. Sec. 37. (1) Subject to subsection (3), a disclosure statement shall include at a minimum the following information, unless waived by the department in the reasonable exercise of discretion: (a) The name and address of the continuing care community and its affiliated parent or subsidiary business entity or partnership. (b) The organization […]

Section 554.939 – Continuing Care Agreement; Requirements.

554.939 Continuing care agreement; requirements. Sec. 39. A continuing care agreement shall meet all of the following requirements: (a) Specify in reasonable detail the rights, privileges, liabilities, and obligations of each party to the continuing care agreement with respect to the statements included in the disclosure statement under section 37(1)(h) to (cc). (b) Specify whether […]