Kansas Statutes 40-2231. Continuing care contracts; definitions
As used in this act:
(a) “Continuing care contract” means an agreement pursuant to which a provider undertakes to furnish to a person, not related by consanguinity or affinity to the provider, shelter and medical or nursing services or other health-related benefits which require a present or deferred transfer of assets or an entrance fee in the amount of $5,000 or equivalent value or such greater amount as set by the commissioner in rules and regulations in addition to or in lieu of periodic charges. Continuing care contract shall also mean an agreement of any other provider who voluntarily applies for a certificate pursuant to Kan. Stat. Ann. § 40-2235.
Terms Used In Kansas Statutes 40-2231
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Certificate: means any certificate issued under a group long-term care insurance policy that has been delivered or issued for delivery in this state. See Kansas Statutes 40-2227
- Commissioner: means the commissioner of insurance. See Kansas Statutes 40-2227
- Continuing care contract: means an agreement pursuant to which a provider undertakes to furnish to a person, not related by consanguinity or affinity to the provider, shelter and medical or nursing services or other health-related benefits which require a present or deferred transfer of assets or an entrance fee in the amount of $5,000 or equivalent value or such greater amount as set by the commissioner in rules and regulations in addition to or in lieu of periodic charges. See Kansas Statutes 40-2231
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Entrance fee: means the total of any initial or deferred transfer to, or for the benefit of, a provider of a sum of money or other property made or promised to be made as full or partial consideration for acceptance of a person as a resident pursuant to a continuing care contract. See Kansas Statutes 40-2231
- Home: means the facility or facilities occupied, or planned to be occupied, by five or more residents where the provider undertakes pursuant to the continuing care contract to provide continuing care to such residents. See Kansas Statutes 40-2231
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Property: includes personal and real property. See Kansas Statutes 77-201
- Resident: means an individual or individuals who have entered into an agreement with a provider for continuing care in a home. See Kansas Statutes 40-2231
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(b) “Entrance fee” means the total of any initial or deferred transfer to, or for the benefit of, a provider of a sum of money or other property made or promised to be made as full or partial consideration for acceptance of a person as a resident pursuant to a continuing care contract.
(c) “Home” means the facility or facilities occupied, or planned to be occupied, by five or more residents where the provider undertakes pursuant to the continuing care contract to provide continuing care to such residents.
(d) “Provider” or “continuing care provider” means the person, corporation, partnership, association or other legal entity which agrees to provide continuing care to residents in a home.
(e) “Resident” means an individual or individuals who have entered into an agreement with a provider for continuing care in a home.
(f) “Commissioner” means commissioner of insurance of the state of Kansas.