Sec. 7.5. (a) This section does not apply to a continuing care retirement community registered before July 1, 2009.
(b) A continuing care agreement may be terminated for any of the following reasons:
(1) The provider has determined that the resident is inappropriate for living in the care setting.
(2) The resident is unable to fully pay the periodic charges because the resident inappropriately divested the assets and income the resident identified at the time of admission to meet the ordinary and customary living expenses for the resident.
(3) Providing assistance to the resident would jeopardize the financial solvency of the provider and the other residents being served by the provider.
(4) The resident has requested a termination of the agreement as allowed under the agreement.
As added by P.L.153-2009, SEC.9.
Structure Indiana Code
Title 23. Business and Other Associations
Article 2. Securities and Franchises
Chapter 4. Supervision of Continuing Care Contracts
23-2-4-2. Application of Chapter
23-2-4-3. Registration; Application; Order
23-2-4-4. Initial Disclosure Statement; Contents
23-2-4-5. Annual Disclosure Statement; Contents; Fee
23-2-4-6. Disclosure Statements; Amendment
23-2-4-7. Delivery of Disclosure Statements to Persons Executing Agreements
23-2-4-7.5. Termination of Contract
23-2-4-11. Letter of Credit, Negotiable Securities, or Bond Instead of Escrow Account
23-2-4-13. Retirement Home Guaranty Fund; Creation and Expiration; Purpose; Levy
23-2-4-14. Fund; Board of Directors; Membership; Compensation
23-2-4-15. Board; Submission and Approval of Plan of Operation; Contents of Plan; Adoption of Rules
23-2-4-17. Fund; Examination and Regulation by Commissioner; Reports
23-2-4-18. Fund; Exemption From Certain Fees and Taxes
23-2-4-20. Disclosure Statements; Liability of Provider
23-2-4-21. Commissioner; Petition for Appointment of Receiver
23-2-4-22. Commissioner; Powers; Hearings and Investigations
23-2-4-23. Violations; Cease and Desist Orders; Actions for Injunctive Relief