In which any director or executive officer of a provider or of any 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 or individuals, prior to execution of a residency agreement, apart from an entrance fee.
“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 continuing care retirement community is in compliance with its reserve requirements.
“Closed bed long term care facility” means a licensed long term care 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.
“Continuing care retirement community” or “CCRC” means any provider that is registered with the Department of Human Services and agrees to furnish continuing care to a resident under a residency agreement.
“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 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.
“Health related services” includes, but is not limited to, nursing care, assistance with activities of daily living, long term care and rehabilitative services.
“Living unit” means a room, apartment, cottage or other area set aside for the exclusive use of the resident.
“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.
“New continuing care retirement community” means a continuing care retirement community registered by a provider on or after January 1, 1990. “New continuing care retirement community” does not mean the remodeling or expansion of an existing continuing care retirement community’s facility on the same or an adjacent site.
“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 long term care facility in a continuing care retirement community that admits persons who have not signed a residency agreement.
“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” means 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 greater than one year.
“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.
“Residents’ 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.
“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; 2009 c.201 §1]