Chapter 80D — Contract Regulation

80D.01 Short Title This section gives the official short name for sections 80D.01 to 80D.16. These sections are called the 'Continuing Care … 80D.02 Definitions This section defines key terms used in the Continuing Care Facility law. It explains what 'continuing care,' 'entrance … 80D.03 Contract Regulation This section says a continuing care provider cannot sign a contract requiring an entrance fee unless it has first filed … 80D.04 Disclosure Statement This section lists everything a continuing care provider must tell prospective residents before signing a contract. The … 80D.05 Entrance Fee Escrow This section requires continuing care providers to put entrance fees into an escrow account with a Minnesota bank until … 80D.06 Reserve Fund Escrow This section requires continuing care providers to set aside a reserve fund in escrow to cover upcoming mortgage or loan … 80D.07 Entrance Fee Reimbursement After Occupancy This section says that any resident can end their continuing care agreement at any time. The facility cannot require … 80D.08 Lien on Behalf of Residents This section creates a lien on the property of continuing care providers to protect residents. The lien lasts for ten … 80D.09 Revised Disclosure This section requires continuing care providers to file an updated disclosure statement with the county recorder every … 80D.10 This section has been repealed and is no longer in effect. 80D.11 Rehabilitation or Liquidation This section allows residents to ask a court to appoint a trustee to take over or shut down a continuing care facility … 80D.12 This section has been repealed and is no longer in effect. 80D.13 Civil Liability This section makes providers and their representatives personally liable if they enter into continuing care contracts … 80D.14 This section has been repealed and is no longer in effect. 80D.15 This section has been repealed and is no longer in effect. 80D.16 Criminal Penalties This section sets criminal penalties for anyone who willfully and knowingly violates the continuing care facility laws. … 80D.17 This section has been repealed and is no longer in effect. 80D.18 This section has been repealed and is no longer in effect. 80D.19 Annual Financial Statement Required This section requires continuing care providers to give residents a yearly financial statement prepared under standard … 80D.20 Residents' Review of Budget; Monthly Statements This section allows residents of a continuing care facility to form an association. The provider must present its annual …