Oregon Statutes 101.052 – Annual disclosure statement
(1) The provider shall file with the Department of Human Services an annual disclosure statement for the provider’s fiscal year that satisfies the requirements of this section and ORS § 101.050. The statement shall be filed within four months following the end of the provider’s fiscal year unless the time is extended by the department.
Terms Used In Oregon Statutes 101.052
- Audited financial statement: means a provider's financial statement that has been prepared in accordance with generally accepted accounting principles and that has been audited by an independent certified public accountant in accordance with generally accepted auditing standards and includes notes to the financial statement that state whether or not the continuing care retirement community is in compliance with its reserve requirements. See Oregon Statutes 101.020
- council: means a body of residents of a continuing care retirement community who are elected by the residents and recognized by the provider as representing the interests of the residents. See Oregon Statutes 101.020
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Manager: means a person, corporation, partnership, association or other legal entity that enters into a contractual arrangement with the provider to manage the continuing care retirement community. See Oregon Statutes 101.020
- Provider: means an owner or operator, whether a natural person, partnership, trust, limited liability company, corporation or unincorporated association, however organized, of a new or existing continuing care retirement community, whether operated for profit or not, that provides, plans to provide or agrees to provide continuing care to one or more unrelated residents under a residency agreement. See Oregon Statutes 101.020
- Regular periodic charges: means basic monthly fees charged to a resident on an ongoing basis. See Oregon Statutes 101.020
(2) In addition to the information required for an initial statement under ORS § 101.050, the annual disclosure statement shall include:
(a) An audited financial statement prepared in accordance with generally accepted accounting principles for the preceding fiscal year;
(b) A disclosure of any change in ownership or manager;
(c) The frequency of residents’ council meetings and the dates of the meetings; and
(d) Copies of all notices of changes in regular periodic charges or notices of proposed changes in fees or services that were given to residents during the provider’s most recently completed fiscal year.
(3) To amend an annual disclosure statement, a provider shall file all amended documents and new materials with the department. [Formerly 101.130]
[1997 c.633 § 2; 2009 c.201 § 4; renumbered 101.112 in 2009]