Maine Revised Statutes Title 24-A Sec. 6216 – Sale or transfer of ownership
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Terms Used In Maine Revised Statutes Title 24-A Sec. 6216
- Continuing care: means furnishing shelter for the life of the individual or for a period in excess of one year and either health care, supportive services, or both, under an agreement requiring prepayment as defined in subsection 12, whether or not the shelter and services are provided at the same location, to 3 or more older individuals not related by blood or marriage to the providers. See Maine Revised Statutes Title 24-A Sec. 6201
- Facility: means a physical plant in which continuing care is provided in accordance with this chapter. See Maine Revised Statutes Title 24-A Sec. 6201
- Provider: means the owner of an institution, building, residence or other place, whether operated for profit or not, in which the owner undertakes to provide continuing care. See Maine Revised Statutes Title 24-A Sec. 6201
- Superintendent: means the Superintendent of Insurance. See Maine Revised Statutes Title 24-A Sec. 6201
Any provider desiring to sell or transfer ownership of a continuing care facility shall notify the superintendent and the acquiring interest shall obtain the superintendent’s advance approval of the sale or transfer. The certificate of authority is nontransferable. The new owner must apply for a new certificate of authority to continue to provide continuing care at the facility. [PL 1987, c. 482, §1 (NEW).]
SECTION HISTORY
PL 1987, c. 482, §1 (NEW).