At least three days prior to the execution of a continuing care contract or the transfer of any money or other property to a provider by or on behalf of a prospective resident, whichever first occurs, the provider shall deliver to the person with whom the contract is to be entered into a copy of a disclosure statement with respect to the facility in question meeting all requirements of this chapter as of the date of its delivery.

Terms Used In Virginia Code 38.2-4903

  • Continuing care: means providing or committing to provide board, lodging and nursing services to an individual, other than an individual related by blood or marriage, (i) pursuant to an agreement effective for the life of the individual or for a period in excess of one year, including mutually terminable contracts, and (ii) in consideration of the payment of an entrance fee. See Virginia Code 38.2-4900
  • Contract: A legal written agreement that becomes binding when signed.
  • Facility: means the place or places in which a person undertakes to provide continuing care to an individual. See Virginia Code 38.2-4900
  • Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
  • Provider: means any person, corporation, partnership or other entity that provides or offers to provide continuing care to any individual in an existing or proposed facility in this Commonwealth. See Virginia Code 38.2-4900
  • Resident: means an individual entitled to receive continuing care in a facility. See Virginia Code 38.2-4900

1985, c. 554, § 38.1-958; 1986, c. 562.

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