(A) The provisions of § 37-11-35 do not apply to a continuing care contract entered into before the effective date of this chapter.

(B) The provisions of subsection (A) do not limit the department‘s authority to deny, suspend, or revoke a license or assess a monetary penalty if it finds fraud or gross financial mismanagement.

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Terms Used In South Carolina Code 37-11-140

  • Contract: A legal written agreement that becomes binding when signed.
  • Department: means the South Carolina Department of Consumer Affairs. See South Carolina Code 37-11-20
  • Fraud: Intentional deception resulting in injury to another.