North Carolina General Statutes Chapter 58. Insurance § 58-64A-25. Leasing real property for a continuing care retirement community

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

(a) An applicant or provider who intends to collect or does collect entrance fees shall not lease any land or other real property from another person if the land or other real property is to be used as a material part of a continuing care retirement community operated by the applicant or provider without first obtaining approval from the Commissioner.

(b) When considering whether to allow an applicant or provider to lease any of the real property of a continuing care retirement community under this section, the Commissioner shall consider all relevant factors, including all of the following:

(1) The terms of the proposed lease, including the proposed length of the lease and any proposed purchase options.

(2) The owner of the real property and the owner's relationship to the applicant or provider.

(3) The distance from any existing real property owned by the applicant or provider.

Previous Part of Code Next Part of Code

Back to Chapter List

Cite this article: FindLaw.com - North Carolina General Statutes Chapter 58. Insurance § 58-64A-25. Leasing real property for a continuing care retirement community - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-58-insurance/nc-gen-st-sect-58-64a-25/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Did FindLaw Help You Understand This Legal Issue?

Make It a Preferred Google Search Source

Add to Google

Latest Blog Posts

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)