Section 307 – Disclosure statement — Contents — Financial information.
Effective 5/10/2016 31A-44-307. Disclosure statement — Contents — Financial information. The provider disclosure statement shall: (1) describe any provisions the provider made or will make to provide reserve funding or security to enable the provider to fully perform the provider’s obligations under a continuing care contract, including: (a) the establishment of an escrow account, trust, […]
Section 308 – Anticipated source and application of funds.
Effective 5/10/2016 31A-44-308. Anticipated source and application of funds. If a provider’s facility is not in operation, the provider disclosure statement shall include a statement of the provider’s anticipated source and application of funds to be used in the purchase or construction of the facility, including: (1) an estimate of the cost of purchasing or […]
Section 309 – Standard contract form.
Effective 5/10/2016 31A-44-309. Standard contract form. (1) A provider shall attach a copy of the provider’s standard contract form to a disclosure statement. (2) The standard contract form shall specify the refund provisions of Sections 31A-44-312 and 31A-44-313. Enacted by Chapter 270, 2016 General Session
Section 310 – Annual disclosure statement revision.
Effective 5/10/2016 31A-44-310. Annual disclosure statement revision. (1) A provider shall file a revised disclosure statement with the department before 120 days after the day on which the provider’s fiscal year ends. (2) The revised disclosure statement shall revise, as of the end of the provider’s fiscal year, the information required by this part. (3) […]
Section 311 – Advertisement in conflict with disclosures.
Effective 5/10/2016 31A-44-311. Advertisement in conflict with disclosures. A provider may not engage in any type of advertisement for a continuing care contract or facility if the advertisement contains a statement or representation in conflict with the disclosures required under this part. Enacted by Chapter 270, 2016 General Session
Section 312 – Rescission of contract — Required language.
Effective 5/10/2016 31A-44-312. Rescission of contract — Required language. (1) An individual who executes a continuing care contract with a provider may rescind the contract at any time before the later of: (a) midnight on the day seven days after the day on which the individual executes the continuing care contract; or (b) a time […]
Section 313 – Cancellation of contract — Death or incapacity before occupancy.
Effective 5/10/2016 31A-44-313. Cancellation of contract — Death or incapacity before occupancy. (1) A continuing care contract to provide continuing care in a living unit in a facility is cancelled if the resident: (a) dies before occupying a living unit in the facility; or (b) is precluded under the terms of the contract from occupying […]
Section 314 – Disclosure statement fees.
Effective 5/10/2016 31A-44-314. Disclosure statement fees. A provider that files a disclosure statement under this chapter shall pay to the department a fee established by the department in accordance with Section 63J-1-504. Enacted by Chapter 270, 2016 General Session
Section 302 – Delivery of disclosure statement.
Effective 5/10/2016 31A-44-302. Delivery of disclosure statement. (1) A provider shall deliver a disclosure statement to an individual before the earlier of the date: (a) the provider executes a continuing care contract with the individual; or (b) the individual transfers an entrance fee or a nonrefundable deposit to the provider. (2) The most recently filed […]
Section 303 – Cover page of disclosure statement.
Effective 5/10/2016 31A-44-303. Cover page of disclosure statement. The cover page of a disclosure statement shall state: (1) the disclosure statement’s date in a prominent location and in type that is boldfaced, capitalized, underlined, or otherwise set out from the surrounding written material so as to be conspicuous; (2) that the provider is required to […]