Sec. 246.074. RETURN OF ENTRANCE FEE. The escrow agent shall return an entrance fee to the person who paid it if the fee is not released to the provider or placed in the loan reserve fund escrow required under Section 246.077 within:
(1) 36 months after the date on which any portion of the entrance fee is received by the provider; or
(2) a longer time specified by the provider in the disclosure statement delivered with the continuing care contract under which the fee was paid.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1991, 72nd Leg., ch. 14, Sec. 106, eff. Sept. 1, 1991; Acts 1993, 73rd Leg., ch. 953, Sec. 10, eff. Sept. 1, 1993.
Section: Previous 246.058 246.071 246.072 246.073 246.0735 246.0736 246.0737 246.074 246.075 246.076 246.077 246.078 246.079 246.080 246.091 NextLast modified: September 28, 2016