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ROBERT L. EHRLICH, JR., Governor
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Ch. 113
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(ii) The designation is witnessed by two or more competent
witnesses;
(iii) The designation is noncontingent; and
(iv) The designation is specified in percentages and accounts for 100
percent of the refund due; and
[(25)] (26) Contain the following statement in boldface type, and in the
largest type used in the agreement: "A preliminary certificate of registration or
certificate of registration is not an endorsement or guarantee of this facility by the
State of Maryland. The Maryland Department of Aging urges you to consult with an
attorney and a suitable financial advisor before signing any documents."
(b) Except as provided in subsection [(a)(24)] (A)(25) of this section, a
requirement of this section shall not apply to any continuing care agreements entered
into before the effective date of the requirement.
15A.
(A) A CONTINUING CARE AGREEMENT SHALL ALLOW A SUBSCRIBER TO
ELECT TO TERMINATE THE AGREEMENT BY GIVING A WRITTEN TERMINATION
NOTICE TO THE PROVIDER
[(a)] (B) If a continuing care agreement is terminated by the subscriber's
election or death within the first 90 days of occupancy, the provider shall pay any
contractual entrance fee refund within 30 days of the earlier to occur of:
(1) The recontracting for the unit of that subscriber BY ANOTHER
SUBSCRIBER FOR WHOM AN ENTRANCE FEE HAS BEEN PAID, OR BY ANOTHER PARTY
NOT A SUBSCRIBER; or
(2) The later to occur of:
(i) The 90th day after the date [of termination] THE WRITTEN
TERMINATION NOTICE IS GIVEN OR OF DEATH; or
(ii) The day the independent living units at the facility have
operated at 95% of capacity for the previous 6 months.
[(b)] (C) [A] IF A CONTINUING CARE AGREEMENT IS TERMINATED BY THE
SUBSCRIBER'S ELECTION OR DEATH AFTER THE FIRST 90 DAYS OF OCCUPANCY, THE
provider shall pay any contractual entrance fee refund [due under a continuing care
agreement to which it is a party] within 60 days of the [agreement being terminated
by a subscriber's election or death, if on the termination date] SUBSCRIBER'S DEATH
OR THE EFFECTIVE DATE OF TERMINATION, IF ON THE DATE OF DEATH OR AT ANY
TIME BETWEEN THE DATE THE WRITTEN TERMINATION NOTICE IS GIVEN AND THE
EFFECTIVE DATE OF TERMINATION the following conditions exist:
(1) The subscriber no longer resides in a unit at the level of care in which
the subscriber resided upon initially entering the facility;
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