Terms Used In Vermont Statutes > Title 8 > Chapter 205 > Subchapter 3 - Branch Sales, Closings, and Change of Control

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Commissioner: means the Commissioner of Financial Regulation. See
• Continuing care: means the furnishing in a facility, pursuant to a continuing care contract, of board and a variety of living arrangements together with nursing, medical, health and health-related services, assistance with the personal activities of daily living, or any combination of these services, including a priority commitment for nursing care, to two or more individuals who are not related by consanguinity or affinity to the person furnishing such care, for a term in excess of one year or for the duration of that individual's life, including mutually terminable contracts. See
• Continuing care contract: means a contract under which a provider is to furnish continuing care to a specified individual in return for payment of an entrance fee that is in addition to, or in lieu of, the payment of regular periodic charges for the care and services involved. See
• Contract: A legal written agreement that becomes binding when signed.
• Department: means the Department of Financial Regulation. See
• Entrance fee: means an initial or deferred transfer to a provider of a sum of money or other property, or portion thereof, made or promised to be made as consideration for acceptance of a specified individual as a resident in a facility. See
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Facility: means a place or places in which a resident receives continuing care. See
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Person: means an individual, trust, state, partnership, committee, corporation, association, or other organizations such as joint-stock companies or insurance companies, or a political subdivision or instrumentality of a state, including a municipal corporation. See
• Provider: means the person who enters into a contract to provide continuing care to a resident. See
• Rate: means the cost of services and insurance per exposure base unit, or cost per unit of insurance, or charge to residents for services rendered, prior to the application of individual risk variations based upon loss or expense considerations. See
• Resident: means the individual designated in a continuing care contract as the one who is to receive continuing care. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• Supplementary rate information: includes any manual, schedule, or plan of rates, classification system, rating schedule, minimum premium, policy fee, rating rule, rating plan, or any other similar information needed or used to determine the applicable rate in effect or to be in effect for a resident. See