“Activities of Daily Living” mean those personal, functional activities required by an individual for continued well-being, which are essential for health and safety. Activities consist of eating, dressing/grooming, bathing/personal hygiene, mobility (ambulation and transfer), elimination (toileting, bowel, and bladder management), and cognition/behavior.
“Adjacent Properties” mean two or more pieces of land that are separated by no more than 1000 feet.
“Affiliated Organization” means any profit or not-for-profit corporation, limited liability company, partnership, sole proprietorship, sponsoring entity, or other form of legal entity:
That is the lessor of the real property on which the facilities of the provider are situated;
In which any director, executive officer, or manager of a provider has an equity or debtor financial interest in excess of $10,000.
“Applicant” means a provider that has submitted an application and disclosure statement to register as a continuing care retirement community.
“Application Fee” means a fee charged to an individual, prior to execution of a residency agreement, apart from an entrance fee.
“Assistant Director” means the assistant director of the Division, or the assistant director’s designee.
“Audited Financial Statement” means a provider’s financial statement that has been prepared in accordance with the GAAP and audited by an independent certified public accountant in accordance with generally accepted auditing standards. The audited financial statement declares whether the continuing care retirement community was or was not in compliance with its reserve requirements during the audited period.
“Certificate of Registration” means a document that is issued and signed by the Assistant Director of the Division that indicates the provider is registered as a continuing care retirement community.
“Closed Bed Long Term Care Facility” means a licensed nursing facility in a continuing care retirement community that is used exclusively by individuals receiving long term care services under a residency agreement.
“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 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. The term applies regardless of whether the care is provided in the continuing care retirement community or in another setting designated by the residency agreement. Health-related services may be provided at a location that is not a part of the continuing care retirement community.
“Continuing Care Retirement Community (CCRC)” means a provider that agrees to furnish continuing care to a resident under a residency agreement. A continuing care retirement community may consist of one or more facilities.
“Department” means the Department of Human Services.
“Division” means the Seniors and People with Disabilities Division of the Department of Human Services.
“Entrance Fee” means an initial or deferred transfer to a provider of a sum of money or property, made or promised to be made as full or partial consideration, for acceptance of one or more residents in a continuing care retirement community. A fee that is less than the sum of the regular periodic charges for one year of residency is not an entrance fee.
“Facility” means physical structures of a continuing care retirement community, on one site or on adjacent properties, operating under the same name and managed as a part of the same continuing care retirement community.
“Generally Accepted Accounting Principles (GAAP)” mean the accounting principles or standards generally accepted in the United States, including but not limited to the accounting standards codification and interpretations thereof as published by the Financial Accounting Standards Board.
“Health-Related Services” includes but is not limited to providing nursing care, assistance with activities of daily living, long-term care, and rehabilitative services.
“Indirect Ownership” means any profit or not-for-profit corporation, limited liability corporation, partnership, sole proprietor, sponsoring entity, or other form of legal entity with ownership interest in an affiliated organization or an indirect economic interest in the net residual value of the provider or both.
“Liquid Reserve” means cash, marketable securities, and net receivables that may be easily converted to cash.
“Living Unit” means a room, apartment, cottage, or other area set aside for the exclusive use of residents.
“Long Term Financing” means funds acquired by borrowing, or sale of bonds, the balance of which is not required to be paid back during the same fiscal year in which they were borrowed (or “sold” in the case of bonds).
“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. “Manager” does not include individuals employed by the provider, corporations affiliated with the provider, or other legal entities within the provider’s supervision or control.
“New Continuing Care Retirement Community” means a continuing care retirement community being initially registered by a provider but does not apply to the remodeling or expansion of an existing continuing care retirement community’s facility on the same or an adjacent site or the annual renewal of an existing continuing care retirement community registration.
“Omit a Material Fact” means the failure to state a material fact required to be stated in any disclosure statement or registration.
“Open Bed Long Term Care Facility” means a licensed nursing facility in a continuing care retirement community that admits individuals who have not signed a residency agreement.
“Ownership Interest” means the possession of equity in the capital, stock, profits, or residual value of the provider.
“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 to one or more unrelated residents under a residency agreement.
“Regular Periodic Charges” mean basic monthly fees charged to a resident on an ongoing basis.
“Residency Agreement” means a contract between a provider and a resident for the provision of continuing care for a period of greater than one year.
“Resident” means an individual who enters into a residency agreement with a provider or who is designated in a residency agreement to be provided with continuing care.
“Residents’ Council (Council)” means a body of residents of a continuing care retirement community who are elected by the residents and recognized by the provider as representing the interests of the residents.
“Residual Value” means the net assets upon the liquidation or dissolution of the provider.
“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.
“Start-Up Losses” means the excess of expenses over revenues that occur or are anticipated to occur.