Sec. 246.074. RETURN OF ENTRANCE FEE. The escrow agent shall return an entrance fee to the person who paid it if the fee is not released to the provider or placed in the loan reserve fund escrow required under Section 246.077 within:
(1) 36 months after the date on which any portion of the entrance fee is received by the provider; or
(2) a longer time specified by the provider in the disclosure statement delivered with the continuing care contract under which the fee was paid.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1991, 72nd Leg., ch. 14, Sec. 106, eff. Sept. 1, 1991; Acts 1993, 73rd Leg., ch. 953, Sec. 10, eff. Sept. 1, 1993.
Structure Texas Statutes
Subtitle B - Licensing of Health Facilities
Chapter 246 - Continuing Care Facilities
Subchapter D. Entrance Fee and Reserve Fund Escrow Accounts
Section 246.071. Entrance Fee Escrow Account; Escrow Agent
Section 246.072. Return of Deposits; Release or Return of Entrance Fee
Section 246.073. Release to the Provider
Section 246.0735. Phase-in Facilities
Section 246.0736. Continuing Release of Escrow
Section 246.0737. Care in Residence
Section 246.074. Return of Entrance Fee
Section 246.075. Escrow of Application Fee Not Required
Section 246.076. Interest Accrued on Entrance Fee Funds
Section 246.077. Reserve Fund Escrow