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Current as of January 01, 2024 | Updated by Findlaw Staff
The escrow agent shall return an entrance fee to the person who paid it if the fee is not released to the provider or placed in the loan reserve fund escrow required under Section 246.077:
(1) not later than 36 months after the date on which any portion of the entrance fee is received by the provider;
(2) within the time period specified by the provider in the disclosure statement delivered with the continuing care contract under which the fee was paid, if the specified time period is longer than the time period under Subdivision (1); or
(3) if any of the following events occur, as soon as practicable after the date the event occurs:
(A) the prospective resident dies before occupying a unit;
(B) construction on a facility not yet in operation is stopped indefinitely before the facility is completed; or
(C) a continuing care contract is rescinded under Section 246.056.
Cite this article: FindLaw.com - Texas Health and Safety Code - HEALTH & SAFETY § 246.074. Return of Entrance Fee - last updated January 01, 2024 | https://codes.findlaw.com/tx/health-and-safety-code/health-safety-sect-246-074/
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.
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