(1) An individual who executes a continuing care contract with a provider may rescind the contract at any time before the later of:

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Terms Used In Utah Code 31A-44-312

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Continuing care: means furnishing or providing access to an individual, other than by an individual related to the individual by blood, marriage, or adoption, of lodging together with nursing services, medical services, or other related services pursuant to a contract requiring an entrance fee. See Utah Code 31A-44-102
  • Continuing care contract: means a contract under which a provider provides continuing care to a resident. See Utah Code 31A-44-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Facility: means a place in which a person provides continuing care pursuant to a continuing care contract. See Utah Code 31A-44-102
  • Individual: means a natural person. See Utah Code 31A-1-301
  • Living unit: means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one or more identified individuals. See Utah Code 31A-44-102
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Provider: means :
              (9)(a)(i) the owner of a facility;
              (9)(a)(ii) a person, other than a resident, that claims a possessory interest in a facility; or
              (9)(a)(iii) a person who enters into a continuing care contract with a resident or potential resident. See Utah Code 31A-44-102
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Writing: includes :
         (48)(a) printing;
         (48)(b) handwriting; and
         (48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5
     (1)(a) midnight on the day seven days after the day on which the individual executes the continuing care contract; or
     (1)(b) a time specified in the continuing care contract that is:

          (1)(b)(i) after the day on which the continuing care contract is executed; or
          (1)(b)(ii) after the day on which the individual receives a disclosure statement that meets the requirements of this part.
(2) A provider may not require an individual who executes a continuing care contract with the provider to move into a facility before the end of the rescission period described in Subsection (1).
(3) If an individual rescinds a continuing care contract under this section, the provider shall refund any money or property that the individual transferred to the provider, other than periodic charges specified in the contract and applicable only to the period the individual occupied a living unit, before 30 days after the day on which the individual rescinds the contract.
(4) A continuing care contract shall include the following statement, or a substantially equivalent statement, in type that is boldfaced, capitalized, underlined, or otherwise set out from the surrounding written material so as to be conspicuous:

     “You may cancel this contract at any time before midnight on the day seven days after the day on which you sign the contract, or before a later day if specified in the contract that is after the later of the day on which you sign the contract or you receive the facility’s disclosure statement. If you elect to cancel the contract, you are required to cancel the contract in writing, and you are entitled to receive a refund of all assets transferred other than periodic charges applicable to the time you occupied your living unit.”

(5) In addition to Subsection (4), a continuing care contract shall include the following statement in type that is boldfaced, capitalized, underlined, or otherwise set out from the surrounding written material so as to be conspicuous:

     “This document, if executed, constitutes a legal and binding contract between you and __________ (Legal name of the continuing care provider). You may wish to consult a legal or financial advisor before signing, although it is not required that you do so to make this contract binding.”