Sec. 15.
(1) Subject to subsections (3) and (4), a person shall not offer to enter into or enter into a continuing care agreement unless the person is registered or exempt from registration under this act.
(2) Subject to subsections (3) and (4), this act applies to all written or oral arrangements between a continuing care community and a member or prospective member in connection with the offer or the sale of a continuing care agreement.
(3) An offer or sale of a continuing care agreement is subject to this act if any of the following apply:
(a) Subject to subsection (4), the offer is made or accepted in this state.
(b) The continuing care community is or will be operated in this state.
(c) The offer originates from this state and is received at the place to which the offer is directed.
(d) The offer is directed by the offeror to this state and is received in this state.
(4) An offer of a continuing care agreement shall not be considered to be made in this state solely because of 1 or more of the following circumstances:
(a) Circulation in this state, by or on behalf of a publisher, of a bona fide newspaper, electronic media, or other publication of general, regular, and paid circulation that has had more than 2/3 of its circulation outside this state during the past 12 months.
(b) Reception in this state of a radio or television program originating outside this state.
History: 2014, Act 448, Eff. Apr. 2, 2015
Structure Michigan Compiled Laws
Chapter 554 - Real and Personal Property
Act 448 of 2014 - Continuing Care Community Disclosure Act (554.901 - 554.993)
Section 554.901 - Short Title.
Section 554.903 - Definitions; a to C.
Section 554.905 - Definitions; D to L.
Section 554.907 - Definitions; M to O.
Section 554.909 - Definitions; P to R.
Section 554.911 - Definitions; S.
Section 554.921 - Incomplete Application; Notification; Order Approving or Denying Registration.
Section 554.923 - Effect of Order Approving or Filing Registration.
Section 554.925 - Renewal of Registration; Application Form to Be Sent by Department.
Section 554.929 - Extension of Registration; Requirements; Fees.
Section 554.933 - Reportable Changes; Amendment of Registration.
Section 554.937 - Disclosure Statement.
Section 554.939 - Continuing Care Agreement; Requirements.
Section 554.941 - Financial Statements; Requirements.
Section 554.943 - Financial Forecast.
Section 554.947 - Alternative Financial Arrangement.
Section 554.949 - Records; Reports.
Section 554.951 - Advertising or Marketing Communication.
Section 554.955 - Offer or Sale of Continuing Care Agreement; Prohibited Acts.
Section 554.957 - Appointment of Independent Conservator or Guardian.
Section 554.959 - Arbitration.
Section 554.961 - Service of Process; Irrevocable Consent Appointing Department.
Section 554.963 - Investigations.
Section 554.965 - Review and Audit of Documents and Records.
Section 554.967 - Repayment of Entrance Fee; Temporary Suspension.
Section 554.969 - Order Denying, Suspending, or Revoking Registration.
Section 554.971 - Cease and Desist Order.
Section 554.973 - Injunction, Restraining Order, or Writ of Mandamus.
Section 554.975 - Civil Fine; Costs; Sanctions; Continuing Care Agreement as Voidable; Refund.
Section 554.977 - Liability; Offer of Rescission.
Section 554.979 - Liability by Implication; Liability Under Other Statute or Common Law.
Section 554.983 - Statute of Limitations.
Section 554.987 - Promulgation of Rules.
Section 554.989 - Disclosure of Filings; Exemption; Confidentiality of Social Security Numbers.
Section 554.991 - Life Interest or Long-Term Lease Agreement Under Former Act.
Section 554.993 - Facility or Person Registered or Exempt Under Former Act.