S 1224 General Bill, By Giese, Glover and Passailaigue
Similar (H 4857)
    A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section 37-11-95 so as to require an operator of a continuing care retirement community to obtain approval from the Department of Consumer Affairs to distribute a dividend or similar distribution; by adding Section 37-11-105 so as to require an operator of a continuing care retirement community to submit a financial plan to the Department for approval if the Department has reason to believe the operator is or may become insolvent; by amending Section 37-11-30, relating to licensing of continuing care retirement communities, so as to revise information that must accompany license applications; by amending Section 37-11-40, relating to the determination of financial responsibility of an applicant for licensure, so as to revise conditions under which a bond or other guarantee is required; and by amending Section 37-11-50, relating to eligibility for licensure, so as to provide that only those continuing care retirement communities which require payment of an entrance fee or other fee in return for a promise of future care must obtain a license rather than all continuing care retirement communities.
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03/02/94	Senate	Introduced and read first time SJ-3
03/02/94	Senate	Referred to Committee on Banking and Insurance SJ-3