As used in this chapter:
(1) “Application fee” means a fee charged to an individual or individuals, prior to execution of a residency agreement, apart from an entrance fee.
(2) “Audited financial statement” means a provider’s financial statement that has been prepared in accordance with generally accepted accounting principles and that has been audited by an independent certified public accountant in accordance with generally accepted auditing standards and includes notes to the financial statement that state whether or not the community is in compliance with its reserve requirements.
(3) “Closed system long term care facility” means a long term care facility in a continuing care retirement community that is used exclusively by the continuing care retirement community’s residents.
(4) “Continuing care” means directly furnishing or indirectly making available, upon payment of an entrance fee and under a residency agreement, housing and health related services, including nursing or assistance with activities of daily living, for a period greater than one year to an individual not related by blood or marriage to the continuing care retirement community provider that is furnishing care, whether provided in the community or in another setting designated by the residency agreement.
(5) “Continuing care retirement community” or “community” means any provider that agrees to furnish continuing care to a resident under a residency agreement.
(6) “Department” means the Department of Human Services.
(7) “Entrance fee” means an initial or deferred transfer to a provider of a sum of money or other property made or promised to be made as full or partial consideration for acceptance of one or more residents in a community. A fee that is less than the sum of the regular periodic charges for one year of residency is not an entrance fee.
(8) “Living unit” means a room, apartment, cottage or other area set aside for the exclusive use of the resident.
(9) “Manager” means a person, corporation, partnership, association or other legal entity that enters into a contractual arrangement with the provider to manage the continuing care retirement community. However, “manager” does not include individuals employed by the provider or corporations affiliated with the provider or other legal entities within the provider’s supervision or control.
(10) “New continuing care retirement community” or “new community” means a community established by a provider on or after January 1, 1990. “New community” does not mean the remodeling or expansion of an existing continuing care retirement community’s facility on the same or an adjacent site.
(11) “Omit a material fact” means the failure to state a material fact required to be stated in any disclosure statement or registration.
(12) “Provider” means an owner or operator, whether a natural person, partnership, trust, limited liability company, corporation or unincorporated association, however organized, of a new or existing continuing care retirement community, whether operated for profit or not, that provides, plans to provide or agrees to provide continuing care for an entrance fee.
(13) “Residency agreement” means the contract or contracts between a provider and a resident for the provision of continuing care.
(14) “Resident” means a person who enters into a residency agreement with a provider or who is designated in a residency agreement to be a person being provided with continuing care in a community.
(15) “Solicit” means all actions of a provider in seeking to have individuals pay an application fee or enter into a residency agreement by any means including, without limitation, personal, telephone, mail or any media distributed or communicated by any means. [1989 c.693 §3; 1997 c.633 §4]Section: Previous 101.010 101.020 101.030 101.040 101.050 101.055 101.060 101.065 101.070 101.080 101.090 101.100 101.110 101.120 101.130 Next
Last modified: August 7, 2008