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2006 LAWS OF MARYLAND
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Ch. 113
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continuing care agreement, and annually to all subscribers on request, a disclosure
statement for each facility of the provider holding a preliminary [certificate of
registration or a], INITIAL, OR RENEWAL certificate of registration.
(2) The provider shall submit its initial disclosure statement to the
Department for review at least 45 days before distributing the statement to any
prospective subscribers.
(b) (1) The provider shall revise the disclosure statement annually and file
the disclosure statement with the Department within 120 days after the end of the
provider's fiscal year.
(2) The Department shall review the disclosure statement solely to
ensure compliance with this section.
(c) The disclosure statement shall include:
(1) The name, address, and description of the facility and the [name and
address of any parent or subsidiary person] IDENTITY OF THE OWNER OR OWNERS
OF THE FACILITY AND THE LAND ON WHICH IT IS LOCATED;
(2) THE NAME AND ADDRESS OF THE PROVIDER AND OF ANY PARENT OR
SUBSIDIARY PERSON;
[(2)] (3) The organizational structure and management of the provider,
including:
(i) If the provider is a corporation or limited liability company, the
name of the corporation or limited liability company, the state in which the
corporation is incorporated or the limited liability company is formed, and the name
of the chief executive officer;
(ii) If the provider is a partnership, the names of the general
partners, the state governing the formation of the partnership, and the name of the
primary individual responsible for managing the partnership;
(iii) If the provider is an unincorporated association, the names of
the members, the state governing the association's activities, and the name of the
primary individual responsible for managing the association;
(iv) If the provider is a partnership having a corporation or limited
liability company as one or more of its general partners, the name of the corporation
or limited liability company, the state in which the corporation is incorporated or the
limited liability company is formed, and the name of the chief executive officer;
(v) If the provider is a trust, the name of the trustee, the names of
the owners of the beneficial interests in the trust, the state governing the trust, and
the name of the primary individual responsible for overseeing the trust's activities;
and
(vi) A statement regarding whether the provider is qualified, or
intends to qualify, as a tax-exempt organization under the Internal Revenue Code;
- 716 -
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