Continuing care retirement communities: contracts.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Assembly
- Sponsor
- 1
- Latest action
- Apr 26, 2016
What it does
Existing law generally provides for the regulation of continuing care retirement communities and continuing care contracts by the State Department of Social Services. Existing law requires any provider offering a refundable contract, defined as a continuing care contract that includes a promise by the provider to pay an entrance fee refund or to repurchase the transferor's interest in the continuing care retirement community when the promise to refund some or all of the initial entrance fee extends beyond the resident's 6th year of residency, to maintain a refund reserve in trust for residents of the continuing care community. That refund reserve requirement does not apply to a continuing…
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Current step)
Floor (Needs attention)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money in California.