(a) (1) A provider shall give without cost a disclosure statement for each facility for which the provider holds a preliminary, initial, or renewal certificate of registration:
(i) to a prospective subscriber before the earlier of payment of any part of the entrance fee or execution of a continuing care agreement; and
(ii) annually to any subscriber who requests a disclosure statement.
(2) A provider shall submit its initial disclosure statement to the Department for review at least 45 days before giving the statement to any prospective subscriber.
(b) (1) A provider shall revise the disclosure statement annually and file it with the Department within 120 days after the end of the provider’s fiscal year.
(2) The Department shall review the disclosure statement solely to ensure compliance with § 10–425 of this subtitle.
(c) (1) An amended disclosure statement is subject to each requirement of this subtitle.
(2) A provider shall file an amended disclosure statement with the Department when it is delivered to a subscriber or prospective subscriber.
Structure Maryland Statutes
Title 10 - Department of Aging
Section 10-419 - "Net Operating Expenses" Defined
Section 10-420 - Operating Reserves -- in General
Section 10-421 - Operating Reserves -- Computation
Section 10-422 - Operating Reserves -- Drawing Funds From Reserves
Section 10-423 - Operating Reserves -- Unconverted Facilities
Section 10-424 - Disclosure Statements -- in General
Section 10-425 - Disclosure Statements -- Contents
Section 10-426 - Annual Meeting
Section 10-427 - Subscriber Input
Section 10-428 - Internal Grievance Procedure