3548

LAWS OF MARYLAND

Ch. 752

(I)  THE DOCUMENTS REQUIRED HAVE BEEN FILED;

(II)  THE PROPOSED CONTINUING CARE CONTRACTS
MEET THE REQUIREMENTS OF THIS SUBTITLE;

(III)  WHEN APPROPRIATE, THE PROVIDER HAS BEEN
LICENSED OR CERTIFIED BY THE DEPARTMENT OF HEALTH AND MENTAL
HYGIENE, THE HEALTH RESOURCES PLANNING COMMISSION, OR AND THE
OFFICE ON AGING;

(IV)  THE ADVERTISING MATERIALS AND CIRCULARS
FILED ARE NOT DECEPTIVE, MISLEADING, OR LIKELY TO MISLEAD;

(V)  THE APPLICANT HAS BEEN ISSUED A PRELIMINARY
CERTIFICATE OF REGISTRATION; AND

(VI) AT LEAST 65 PERCENT OF THE AVAILABLE UNITS
HAVE BEEN CONTRACTED FOR WITH A MINIMUM 10 PERCENT OF THE
ENTRANCE FEE PAID AS A DEPOSIT FOR EACH CONTRACTED UNIT, CLOSING
ON CONSTRUCTION FINANCING HAS TAKEN PLACE, AND THERE IS A
COMMITMENT FOR PERMANENT LONG TERM FINANCING;

(VI) AT LEAST 65 PERCENT OF THE AVAILABLE UNITS
HAVE BEEN CONTRACTED FOR WITH A MINIMUM 10 PERCENT OF THE
ENTRANCE FEE PAID AS A DEPOSIT FOR EACH CONTRACTED UNIT;

(VII) CLOSING ON CONSTRUCTION FINANCING HAS
TAKEN PLACE; AND

(VIII) THERE IS A COMMITMENT FOR PERMANENT
LONG-TERM FINANCING.

(2) WHEN REQUESTED BY A CONSTRUCTION LENDER, THE
OFFICE MAY ISSUE A LETTER STATING THAT:

(I) ALL REQUIREMENTS OF PARAGRAPH (1) OF THIS
SUBSECTION EXCEPT SUBPARAGRAPH (VII) HAVE BEEN MET; AND

(II) ON CLOSING OF THE CONSTRUCTION LOAN THE
CERTIFICATE OF REGISTRATION SHALL BE ISSUED.

(2) (3) WHEN THE OFFICE HAS DETERMINED THAT THE
REQUIREMENTS OF PARAGRAPH (1) OF THIS SUBSECTION HAVE BEEN MET,
THE OFFICE SHALL ISSUE A FINAL CERTIFICATE OF REGISTRATION TO THE
APPLICANT. IF THE APPLICATION IS DISAPPROVED, THE OFFICE SHALL
SET FORTH ITS REASONS FOR DENIAL IN WRITING.

(3) (4) ONCE A FINAL CERTIFICATE OF REGISTRATION
HAS BEEN ISSUED, THE PROVIDER MAY USE 50 PERCENT OF THE ESCROWED
DEPOSITS. WHEN CONSTRUCTION IS COMPLETED, AND THE PROVIDER HAS
BEEN ISSUED A CERTIFICATE OF OCCUPANCY, OR THE EQUIVALENT, BY THE
APPROPRIATE LOCAL JURISDICTION, THE REMAINING DEPOSITS HELD IN
ESCROW MAY BE USED.