(a) Providers must use a standard form to contract
with residents for continuing care in residence.
(b) The standard contract form must:
(1) contain an amortization schedule showing when the
provider will be entitled to release of a resident's entrance fee
from escrow;
(2) include or reference all the provider's statutory
duties and obligations, including the refund provisions of Health
and Safety Code §246.057; and
(3) include the following information about the resident's
cancellation rights, in bold, capitalized, or underlined type so as
to be conspicuous: "You may cancel this contract at any time before
midnight of the seventh day, or a later day if specified in the contract,
after the date on which you sign this contract, or you receive the
provider's disclosure statement, whichever occurs later. If you elect
to cancel the contract, you must do so by written notice and you will
be entitled to receive a refund of all assets transferred other than
periodic charges applicable to your receiving continuing care in residence
services."
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