Sec. 246.075. ESCROW OF APPLICATION FEE NOT REQUIRED. This subchapter does not require the escrow of any nonrefundable portion of a deposit or entrance fee that:
(1) does not exceed an amount equal to two percent of the entrance fee; and
(2) is clearly designated as nonrefundable in the continuing care contract or reservation agreement.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1993, 73rd Leg., ch. 953, Sec. 11, 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