Florida Statutes 651.024 – Acquisition
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 651.024
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Controlling company: means any corporation, trust, or association that directly or indirectly owns 25 percent or more of:(a) The voting securities of one or more providers that are stock corporations; or(b) The ownership interest of one or more providers that are not stock corporations. See Florida Statutes 651.011
- Facility: means a place where continuing care is furnished and may include one or more physical plants on a primary or contiguous site or an immediately accessible site. See Florida Statutes 651.011
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
- Provider: means the owner or operator, whether a natural person, partnership or other unincorporated association, however organized, trust, or corporation, of an institution, building, residence, or other place, whether operated for profit or not, which owner or operator provides continuing care or continuing care at-home for a fixed or variable fee, or for any other remuneration of any type, whether fixed or variable, for the period of care, payable in a lump sum or lump sum and monthly maintenance charges or in installments. See Florida Statutes 651.011
(1) A person who seeks to assume the role of general partner of a provider or to otherwise assume ownership or possession of, or control over, 10 percent or more of a provider, a controlling company of the provider, or a provider’s assets, based on the balance sheet from the most recent financial audit report filed with the office, is subject to s. 628.4615 and is not required to make filings pursuant to s. 651.022, s. 651.023, or s. 651.0245.(2) A person who seeks to acquire and become the provider for a facility is subject to s. 651.0245 and is not required to make filings pursuant to ss. 628.4615, 651.022, and 651.023.(3) In addition to the provider or the controlling company, the office has standing to petition a circuit court under s. 628.4615(9).