A. The legislature finds that continuing care communities are an important and growing alternative for the provision of long-term residential, social and health maintenance needs for the elderly; however, the legislature also finds that severe consequences to residents may result when a provider becomes insolvent or unable to provide responsible care.
B. The purpose of the Continuing Care Act is to provide for disclosure and the inclusion of certain information in continuing care contracts in order that residents may make informed decisions concerning continuing care; to provide protection for residents; and to ensure the solvency of communities.
History: Laws 1985, ch. 102, § 2; 2010, ch. 88, § 2.
The 2010 amendment, effective May 19, 2010, in Subsection B, after "protection of residents; and", added "to ensure the solvency of".
Structure New Mexico Statutes
Chapter 24 - Health and Safety
Section 24-17-1 - Short title.
Section 24-17-2 - Findings and purpose.
Section 24-17-3 - Definitions.
Section 24-17-5 - Contract information.
Section 24-17-6 - Requirements for financial reserves.
Section 24-17-8 - Consumer's guide to continuing care communities.
Section 24-17-10 - Restraint of prohibited acts; remedies.
Section 24-17-11 - Applicability.
Section 24-17-12 - Right to a written transfer policy.
Section 24-17-13 - Right to organize and participate.
Section 24-17-14 - Right to protection against retaliatory conduct.
Section 24-17-15 - Right to civil action for damages.
Section 24-17-16 - Identification and procedures for correction of violations.
Section 24-17-17 - Rules and regulations authorized.
Section 24-17-18 - Report to attorney general; civil action; civil penalties.