California Health and Safety Code ARTICLE 3 - Deposit Subscription Period

• Section 1780.
  The department shall issue a permit to accept deposits when it has done all of the following:(a)  Determined that the application is adequate. (b)  Determined...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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)...
• Section 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...
• Section 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,...
• Section 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...
• Section 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...
• Section 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...
• Section 1783.2.
  (a)  An escrow agent shall refund to the depositor all amounts required by the depositor’s deposit agreement upon receiving written notice from the applicant that...
• Section 1783.3.
  (a) In order to seek a release of escrowed funds, the applicant shall petition in writing to the department and certify to each of the following:(1) The...
• Section 1784.
  (a)  If construction of the proposed continuing care retirement community, or applicable phase, has not commenced within 36 months from the date the permit to...
• Section 1785.
  (a) If, at any time prior to issuance of a certificate of authority, the applicant’s average performance over any six-month period does not substantially equal or...

Last modified: October 22, 2018