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Commission hears calls for clearer rules on CCRC entrance‑fee refunds, reserves and ownership changes
Summary
Commission members, providers and advocates debated whether state rules should require clearer refund timelines, minimum reserve levels and stronger protections when CCRCs sell or change ownership; providers warned that rigid rules could hinder development.
Commissioners and stakeholders at the special commission on continuing‑care retirement communities spent substantial time debating entrance fees, refund timing and protections for residents when a community changes ownership or closes.
Several attendees said contract language on refunds can be vague. “When does that get returned and under what conditions does that get returned? And that is not clearly defined by the state,” said a representative of MALCRA during public comment. Commissioners and operators agreed that disclosure at admission is common, but the terms and timing of refunds vary by community.
Some members urged minimum reserve…
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