North Carolina General Statutes Chapter 58. Insurance § 58-64A-20. Commissioner approval required to offer or provide continuing care

Current as of January 01, 2023 | Updated by Findlaw Staff

No person shall engage in the business of offering or providing continuing care in this State without a certification, license, permit, or other approval from the Commissioner as provided in this Article. Engaging in the business of offering or providing continuing care in this State includes all of the following:

(1) Accepting any deposit or any other payment that is related to continuing care.

(2) Entering into any nonbinding reservation agreement, binding reservation agreement, continuing care contract, or continuing care at home contract.

(3) Commencing construction of a prospective continuing care retirement community.

(4) Converting an existing building or buildings to a continuing care retirement community.

(5) Executing new nonbinding reservation agreements, binding reservation agreements, continuing care contracts, or continuing care at home contracts after a permit, certificate, or license issued pursuant to this Article has been inactivated, surrendered, or forfeited.

(6) Assuming responsibility for continuing care and continuing care at home contracts.

(7) Advertising or marketing to the general public any product similar to continuing care through the use of such terms as “life care,” “life plan,” “continuing care,” or “guaranteed care for life,” or similar terms, words, or phrases.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 58. Insurance § 58-64A-20. Commissioner approval required to offer or provide continuing care - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-58-insurance/nc-gen-st-sect-58-64a-20/

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