4664 – Asset Reserves.
§ 4664. Asset reserves. An operator shall maintain reserve liabilities and supporting assets in an amount for the purposes set forth in a regulation issued by the commissioner. Liquid assets shall be maintained for the following reserve liabilities: 1. Fifteen percent of the projected annual operating expenses of the facility, exclusive of depreciation. 2. A […]
4665 – Residents’ Organizations.
§ 4665. Residents’ organizations. 1. Residents living in a community authorized by this article shall have the right of self-organization, the right to be represented by one or more individuals of their own choosing, and the right to engage in concerted activities for the purpose of keeping informed of the operation of the community in […]
4666 – Advertisements.
§ 4666. Advertisements. No person, partnership, corporation, company, trust or association, or any agent or employee thereof, shall publish or cause to be published, circulated, or disseminated any financial statement, pamphlet, circular, form letter, advertisement, or other sales literature or advertising communication addressed or intended for distribution to prospective residents of fee-for-service continuing care retirement […]
4667 – Audits.
§ 4667. Audits. 1. The commissioner, or his or her designee, may at any time, and shall at least once every three years, visit each community and examine the business of any applicant for a certificate of authority and any operator engaged in the execution of fee-for-service continuing care contracts or engaged in the performance […]
4668 – Revocation, Suspension or Annulment of Certificate of Authority.
§ 4668. Revocation, suspension or annulment of certificate of authority. 1. The council may revoke, suspend, limit or annul the certificate of authority of an operator upon proof that: a. The operator failed to continue to meet the requirements for the authority originally granted; b. The operator lacked one or more of the qualifications for […]
4669 – Appointment of a Caretaker.
§ 4669. Appointment of a caretaker. Upon a determination by the council that there exists operational deficiencies in a fee-for-service continuing care retirement community that show: 1. there exists in the facility a pattern or practice of habitual violation of the standards of health, safety or patient care established under federal or state law or […]
4670 – Receiverships.
§ 4670. Receiverships. 1. The council may, if it determines that serious operational deficiencies exist or serious financial problems exist and such action is desirable, enter into an agreement with the operator or owners of a fee-for-service continuing care retirement community with respect to the appointment of a receiver to take charge of the community […]
4655 – Certificate of Authority Required; Application and Approval.
* § 4655. Certificate of authority required; application and approval. 1. No person shall construct, expand, acquire, maintain, or operate a fee-for-service continuing care retirement community, or enter into a contract as an operator, or solicit the execution of any contract for fee-for-service continuing care retirement community services to be provided within the state or […]
4656 – Certificate of Authority; Authority of Operator.
* § 4656. Certificate of authority; authority of operator. 1. A certificate of authority shall authorize an operator: a. to operate a fee-for-service continuing care retirement community and to enter into contracts pertaining to such community; b. to prepare and make public information that details the terms of any contract relating to a community; c. […]
4657 – Initial Disclosure Statement.
* § 4657. Initial disclosure statement. Prior to the execution of a contract, or before the transfer of any money, other than a refundable priority reservation fee or non-refundable priority reservation agreement application fee, to an operator by or on behalf of a prospective resident, whichever occurs first, the operator shall deliver to the person […]