Florida · statute · Fla. Stat. ch. 651 · 54 active provisions
As used in this chapter, the term:(1) “Actuarial opinion” means an opinion issued by an actuary in accordance with Actuarial Standard of Practice No. 3 for Continuing Care Retirement Communities, Revised Edition, effective May 1, 2011.(2) “Actuarial study” means an analysis prepared for an individual facility, or conso…
Any facility exempted under s. 632.637(1)(e) or excluded from the definition of the term “provider” in s. 651.011 must provide written disclosure of such exemption to each person admitted to the facility. This disclosure must be written using language likely to be understood by the person and must briefly explain the e…
(1) Except as herein provided, providers of continuing care and continuing care at-home are governed by the provisions of this chapter and are exempt from all other provisions of the Florida Insurance Code.(2) In addition to other applicable provisions cited in this chapter, the office has the authority granted under s…
Nothing in the Florida Insurance Code or this chapter shall be deemed to authorize any provider of a continuing care facility to transact any insurance business other than that of continuing care insurance or otherwise to engage in any other type of insurance unless it is authorized under a certificate of authority iss…
The administration of this chapter is vested in the commission, office, and department, which shall:(1) Prepare and furnish all forms necessary under the provisions of this chapter in relation to applications for provisional certificates of authority, certificates of authority or renewals thereof, statements, examinati…
The office may place a facility in administrative supervision pursuant to part VI of chapter 624.
(1)(a) A provider shall provide a written general outline of the amount and the anticipated terms of any new financing or refinancing, and the intended use of proceeds, to the residents’ council at least 30 days before the closing date of the financing or refinancing transaction. If there is a material change in the no…
A person may not engage in the business of providing continuing care, issuing contracts for continuing care or continuing care at-home, or constructing a facility for the purpose of providing continuing care in this state without a certificate of authority obtained from the office as provided in this chapter. This sect…
(1) For an applicant to qualify for a certificate of authority without first obtaining a provisional certificate of authority, all of the following conditions must be met:(a) All reservation deposits and entrance fees must be placed in escrow in accordance with s. 651.033. The applicant may not use or pledge any part o…
(1) Each applicant for a certificate of authority shall first apply for and obtain a provisional certificate of authority pursuant to this section.(2) The application for a provisional certificate of authority must be on a form prescribed by the commission and must contain the following information:(a) If the applicant…
(1) After issuance of a provisional certificate of authority, the office shall issue to the holder of such provisional certificate a certificate of authority if the holder of the provisional certificate provides the office with the following information:(a) Any material change in status with respect to the information…
(1) The provisional certificate of authority and certificate of authority shall be valid for as long as the office determines that the provider continues to meet the requirements of this chapter.(2) If the provider fails to meet the requirements of this chapter for a provisional certificate of authority or a certificat…
(1) A person who seeks to assume the role of general partner of a provider or to otherwise assume ownership or possession of, or control over, 10 percent or more of a provider, a controlling company of the provider, or a provider’s assets, based on the balance sheet from the most recent financial audit report filed wit…
(1) Except with the prior written approval of the office, a person may not, individually or in conjunction with any affiliated person of such person, directly or indirectly acquire a facility operating under a subsisting certificate of authority and engage in the business of providing continuing care.(2) An applicant s…
(1)(a) A provider must obtain written approval from the office before commencing construction or marketing for an expansion of a certificated facility equivalent to the addition of at least 20 percent of existing units or 20 percent or more of the number of continuing care at-home contracts. If the provider has exceede…
(1) Annually, on or before May 1, the provider shall file an annual report and such other information and data showing its condition as of the last day of the preceding calendar year, except as provided in subsection (5). If the office does not receive the required information on or before May 1, a late fee may be char…
(1) Within 45 days after the end of each fiscal quarter, each provider shall file a quarterly unaudited financial statement of the provider or of the facility in the form prescribed by commission rule and days cash on hand, occupancy, debt service coverage ratio, and a detailed listing of the assets maintained in the l…
A provider or facility is deemed accredited for purposes of ss. 400.235(5)(b)1. and 651.105(1) if it is accredited without stipulations or conditions by a process found by the commission to be acceptable, substantially equivalent to the provisions of this chapter, and consistent with the security protections intended b…
(1) When funds are required to be deposited in an escrow account pursuant to s. 651.0215, s. 651.022, s. 651.023, s. 651.0246, s. 651.035, or s. 651.055:(a) The escrow account must be established in a Florida state-chartered bank, savings bank, or trust company, or a federal savings or thrift association, bank, savings…
(1)(a) If a regulatory action level event occurs, the office must:1. Require the provider to prepare and submit a corrective action plan or, if applicable, a revised corrective action plan;2. Perform an examination pursuant to s. 651.105 or an analysis, as the office considers necessary, of the assets, liabilities, and…
(1) A provider shall maintain in escrow a minimum liquid reserve consisting of the following reserves, as applicable:(a) Each provider shall maintain in escrow as a debt service reserve the aggregate amount of all principal and interest payments due during the fiscal year on any mortgage loan or other long-term financi…
(1) A contract with a management company entered into after July 1, 2019, must be in writing and include a provision that the contract will be canceled upon issuance of an order by the office pursuant to this section and without the application of a cancellation fee or penalty. If a provider contracts with a management…
All records and assets of a provider must be maintained or readily accessible in this state or, if the provider’s corporate office is located in another state, such records must be electronically stored in a manner that will ensure that the records are readily accessible to the office. No records or assets may be remov…
(1) Each continuing care contract and each addendum to such contract shall be submitted to and approved by the office before its use in this state. Thereafter, no other form of contract shall be used by the provider until it has been submitted to and approved by the office. Each contract must:(a) Provide for the contin…
(1) In addition to the requirements of s. 651.055, a provider offering contracts for continuing care at-home must:(a) Disclose the following in the continuing care at-home contract:1. Whether transportation will be provided to residents when traveling to and from the facility for services;2. That the provider has no li…