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May 24, 2000
S. Printed 5/24/00--S.
Read the first time May 18, 2000.
TO AMEND SECTION 37-11-20, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITION OF TERMS USED IN THE "STATE CONTINUING CARE RETIREMENT COMMUNITY ACT", SO AS TO REVISE THE DEFINITION OF "CONTINUING CARE CONTRACT" SUCH THAT ONLY THOSE COMMUNITIES THAT REQUIRE THE PAYMENT OF AN ENTRANCE FEE OR OTHER FEE IN RETURN FOR A PROMISE OF FUTURE CARE ARE SUBJECT TO THE PROVISIONS OF THE ACT; AND TO AMEND SECTION 37-11-135, RELATING TO EXEMPTIONS FROM CERTAIN PROVISIONS OF THE ACT, SO AS TO EXEMPT CONTINUING CARE RETIREMENT COMMUNITIES FROM ALL PROVISIONS OF THE ACT IF PAYMENT OF AN ENTRANCE FEE IS NOT REQUIRED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 37-11-20(6) of the 1976 Code, as added by Act 97 of 1989, is amended to read:
"(6) 'Continuing care contract' means a contract to provide board or lodging together with nursing, medical, or other health-related services:
(a) to a person sixty-five years of age or older at the time the contract is signed or purchased; or
which requires payment of an entrance fee or other fee in return for a promise of future care; or
(c) which provides for services for the life of the person or for more than one year, including mutually terminable contracts .; and
(c) which requires payment of an entrance fee or other fee in return for a promise of future care."
SECTION 2. Section 37-11-135 of the 1976 Code, as added by Act 19 of 1995, is amended to read:
"Section 37-11-135. A continuing care retirement community which does not require payment of an entrance fee is exempt from the requirements of
Sections 37-11-30(B)(9), 37-11-40, and 37-11-50(2) this chapter."
SECTION 3. This act takes effect upon approval by the Governor.
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