| (a) Sections 33.302, 33.303, 33.305, 33.307, and 33.308
of this title apply to continuing care in residence.
(b) The organization and elements of the disclosure
statement, including any revisions, must follow the format in CCRC
Form 6b (FIN605). The disclosure statement or revision must be submitted
in compliance with CCRC Form 6a (FIN389).
(c) The disclosure statement must be submitted to the
department before any of the following occur:
(1) the provider contracts to provide continuing care
in residence in Texas;
(2) the provider extends the term of an existing contract
to provide continuing care in residence in Texas; or
(3) the provider or provider's agent solicits a continuing
care contract in Texas for an individual who resides in Texas at the
time of the solicitation. A continuing care contract is considered
solicited if, during the 12-month period preceding the date on which
the continuing care contract is signed or accepted by either party,
information concerning the availability of the continuing care in
residence contract is given:
(A) by personal, telephone, mail, or other communication
directed to and received by a person at a location in Texas; or
(B) in paid advertisements published or broadcast from
within Texas, other than in a publication in which more than two-thirds
of the circulation is outside Texas.
(d) The provider must submit the initial and annual
revisions of the disclosure statement not later than 120 days after
the end of the provider's fiscal year. If the 120th day falls on a
weekend or on a recognized state or federal holiday, the due date
is the next business day.
(e) The disclosure statement must also include the
following:
(1) annual audited financial statements as defined
in §33.2 of this title;
(2) annual actuarial review; and
(3) information about how the amortization schedules
in care in residence contracts are calculated and applied to releases
described under §33.104(b) of this title.
(f) No less than 30 days before entering into a contract
with a third-party to manage the provider's continuing care in residence
operations, a provider must submit one copy of the management contract
to the department as set out in §33.9 of this title.
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