reglab/housing_qa huggingface dataset:
CA Health & Safety Code § 1792.4 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 6 - Reporting and Reserve Requirements|Section 1792.4.

1792.4.  (a) Each provider shall include in its liquid reserve a reserve for its operating expenses in an amount that equals or exceeds 75 days’ net operating expenses. For purposes of this section:(1) Seventy-five days net operating expenses shall be calculated by dividing the provider’s operating expenses during the immediately preceding fiscal year by 365, and multiplying that quotient by 75.(2) “Net operating expenses” includes all expenses except the following:(A) The interest and credit enhancement expenses factored into the provider’s calculation of its long-term debt reserve obligation described in Section 1792.3.(B) Depreciation or amortization expenses.(C) An amount equal to the reimbursement paid to the provider during the past 12 months for services to residents other than residents holding continuing care contracts.(D) Extraordinary expenses that the department determines may be excluded by the provider. A provider shall apply in writing for a determination by the department and shall provide supporting documentation prepared in accordance with generally accepted accounting principles.(b) A provider that has been in operation for less than 12 months shall calculate its net operating expenses by using its actual expenses for the months it has operated and, for the remaining months, the projected net operating expense amounts it submitted to the department as part of its application for a certificate of authority.(Amended by Stats. 2004, Ch. 129, Sec. 4. Effective January 1, 2005.)
CA Health & Safety Code § 1792.5 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 6 - Reporting and Reserve Requirements|Section 1792.5.

1792.5.  (a) The provider shall compute its liquid reserve requirement as of the end of the provider’s most recent fiscal yearend based on its audited financial statements for that period and, at the time it files its annual report, shall file a form acceptable to the department certifying all of the following:(1) The amount the provider is required to hold as a liquid reserve, including the amounts required for the debt service reserve and the operating expense reserve.(2) The qualifying assets, and their respective values, the provider has designated for its debt service reserve and for its operating expense reserve.(3) The amount of any deficiency or surplus for the provider’s debt service reserve and the provider’s operating expense reserve.(b) For the purpose of calculating the amount held by the provider to satisfy its liquid reserve requirement, all qualifying assets used to satisfy the liquid reserve requirements shall be valued at their fair market value as of the end of the provider’s most recently completed fiscal year. Restricted assets that have guaranteed values and are designated as qualifying assets under paragraph (6) or (7) of subdivision (a) of Section 1792.2 may be valued at their guaranteed values.(Amended by Stats. 2004, Ch. 129, Sec. 5. Effective January 1, 2005.)
CA Health & Safety Code § 1792.7 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 6 - Reporting and Reserve Requirements|Section 1792.7.

1792.7.  (a) The Legislature finds and declares all of the following:(1) In continuing care contracts, providers offer a wide variety of living accommodations and care programs for an indefinite or extended number of years in exchange for substantial payments by residents.(2) The annual reporting and reserve requirements for each continuing care provider should include a report that summarizes the provider’s recent and projected performance in a form useful to residents, prospective residents, and the department.(3) Certain providers enter into “life care contracts” or similar contracts with their residents. Periodic actuarial studies that examine the actuarial financial condition of these providers will help to assure their long-term financial soundness.(b) Each provider shall annually file with the department a report that shows certain key financial indicators for the provider’s past five years, based on the provider’s actual experience, and for the upcoming five years, based on the provider’s projections. Providers shall file their key indicator reports in the manner required by Section 1792.9 and in a form prescribed by the department.(c) Each provider that has entered into Type A contracts shall file with the department an actuary’s opinion as to the actuarial financial condition of the provider’s continuing care operations in the manner required by Section 1792.10.(Added by Stats. 2004, Ch. 129, Sec. 6. Effective January 1, 2005.)
CA Health & Safety Code § 1792.8 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 6 - Reporting and Reserve Requirements|Section 1792.8.

1792.8.  (a) For purposes of this article, “actuarial study” means an analysis that addresses the current actuarial financial condition of a provider that is performed by an actuary in accordance with accepted actuarial principles and the standards of practice adopted by the Actuarial Standards Board. An actuarial study shall include all of the following:(1) An actuarial report.(2) A statement of actuarial opinion.(3) An actuarial balance sheet.(4) A cohort pricing analysis.(5) A cashflow projection.(6) A description of the actuarial methodology, formulae, and assumptions.(b) “Actuary” means a member in good standing of the American Academy of Actuaries who is qualified to sign a statement of actuarial opinion.(c) “Type A contract” means a continuing care contract that has an up-front entrance fee and includes provision for housing, residential services, amenities, and unlimited specific health-related services with little or no substantial increases in monthly charges, except for normal operating costs and inflation adjustments.(Added by Stats. 2004, Ch. 129, Sec. 7. Effective January 1, 2005.)
CA Health & Safety Code § 1792.9 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 6 - Reporting and Reserve Requirements|Section 1792.9.

1792.9.  (a) All providers shall file annually with the department a financial report disclosing key financial ratios and other key indicators in a form determined by the department.(b) The department shall issue a “Key Indicators Report” form to providers that shall be used to satisfy the requirements of subdivision (a). The Key Indicators Report shall require providers to disclose the following information:(1) Operational data indicating the provider’s average annual occupancy by facility.(2) Margin ratios indicating the provider’s net operating margin and net operating margin adjusted to reflect net proceeds from entrance fees.(3) Liquidity indicators stating both the provider’s total cash and investments available for operational expenses and the provider’s days cash on hand.(4) Capital structure indicators stating the provider’s dollar figures for deferred revenue from entrance fees, net annual entrance fee proceeds, unrestricted net assets, and annual capital expenditure.(5) Capital structure ratios indicating the provider’s annual debt service coverage, annual debt service coverage adjusted to reflect net proceeds from entrance fees, annual debt service over revenue percentage, and unrestricted cash over long-term debt percentage.(6) Capital structure indicators stating the provider’s average age of facility calculation based on accumulated depreciation and the provider’s average annual effective interest rate.(c) The department shall determine the appropriate formula for calculating each of the key indicators included in the Key Indicator Report. The department shall base each formula on generally accepted standards and practices related to the financial analysis of continuing care providers and entities engaged in similar enterprises.(d) Each provider shall file its annual Key Indicators Report within 30 days following the due date for the provider’s annual report. If the Key Indicators Report is not received by the department by the date it is due, the provider shall pay a one thousand dollar ($1,000) late fee at the time the report is submitted. The provider shall pay an additional late fee of thirty-three dollars ($33) for each day the report is late beyond 30 days. For purposes of this section, a provider’s Key Indicators Report is not submitted to the department until the provider has paid all accrued late fees.(Added by Stats. 2004, Ch. 129, second Sec. 7 (Sec. 7.5). Effective January 1, 2005.)
CA Health & Safety Code § 1792.10 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 6 - Reporting and Reserve Requirements|Section 1792.10.

1792.10.  (a) Each provider that has entered into Type A contracts shall submit to the department, at least once every five years, an actuary’s opinion as to the provider’s actuarial financial condition. The actuary’s opinion shall be based on an actuarial study completed by the opining actuary in a manner that meets the requirements described in Section 1792.8. The actuary’s opinion, and supporting actuarial study, shall examine, refer to, and opine on the provider’s actuarial financial condition as of a specified date that is within four months of the date the opinion is provided to the department.(b) Each provider required to file an actuary’s opinion under subdivision (a) that held a certificate of authority on December 31, 2003, shall file its actuary’s opinion before the expiration of five years following the date it last filed an actuarial study or opinion with the department. Thereafter, the provider shall file its required actuary’s opinion before the expiration of five years following the date it last filed an actuary’s opinion with the department.(c) Each provider required to file an actuary’s opinion under subdivision (a) that did not hold a certificate of authority on December 31, 2003, shall file its first actuary’s opinion within 45 days following the due date for the provider’s annual report for the fiscal year in which the provider obtained its certificate of authority. Thereafter, the provider shall file its required actuary’s opinion before the expiration of five years following the date it last filed an actuary’s opinion with the department.(d) The actuary’s opinion required by subdivision (a) shall comply with generally accepted actuarial principles and the standards of practice adopted by the Actuarial Standards Board. The actuary’s opinion shall also include statements that the data and assumptions used in the underlying actuarial study are appropriate and that the methods employed in the actuarial study are consistent with sound actuarial principles and practices. The actuary’s opinion must state whether the provider has adequate resources to meet all its actuarial liabilities and related statement items, including an appropriate surplus, and whether the provider’s financial condition is actuarially sound.(Added by Stats. 2004, Ch. 129, Sec. 8. Effective January 1, 2005.)
CA Health & Safety Code § 1793.5 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.5.

1793.5.  (a)  An entity that accepts deposits and proposes to promise to provide care without having a current and valid permit to accept deposits is guilty of a misdemeanor. (b)  An entity that accepts deposits and fails to place any deposit received into an escrow account as required by this chapter is guilty of a misdemeanor. (c)  An entity that executes a continuing care contract without holding a current and valid provisional certificate of authority or certificate of authority is guilty of a misdemeanor. (d)  An entity that abandons a continuing care retirement community or its obligations under a continuing care contract is guilty of a misdemeanor. An entity that violates this section shall be liable to the injured resident for treble the amount of damages assessed in any civil action brought by or on behalf of the resident in any court having proper jurisdiction. The court may, in its discretion, award all costs and attorney fees to the injured resident, if that resident prevails in the action. (e)  Each violation of subdivision (a), (b), (c), or (d) is subject to a fine not to exceed ten thousand dollars ($10,000), or by imprisonment in the county jail for a period not to exceed one year, or by both. (f)  An entity that issues, delivers, or publishes, or as manager or officer or in any other administrative capacity, assists in the issuance, delivery, or publication of any printed matter, oral representation, or advertising material which does not comply with the requirements of this chapter is guilty of a misdemeanor. (g)  A violation of subdivision (f) by an entity will constitute cause for the suspension of all and any licenses, permits, provisional certificates of authority, and certificates of authority issued to that entity by any agency of the state. (h)  A violation under this section is an act of unfair competition as defined in Section 17200 of the Business and Professions Code. (Amended by Stats. 2000, Ch. 820, Sec. 58. Effective January 1, 2001.)
CA Health & Safety Code § 1793.7 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.7.

1793.7.  A permit to accept deposits, a provisional certificate of authority, or a certificate of authority shall be forfeited by operation of law when any one of the following occurs:(a)  The applicant terminates marketing for the proposed continuing care retirement community. (b)  The applicant or provider surrenders to the department its residential care facility for the elderly license, the permit to accept deposits, provisional certificate of authority, or certificate of authority for a continuing care retirement community. (c)  The applicant or provider sells or otherwise transfers all or part of the continuing care retirement community. (d)  A change occurs in the majority ownership of the continuing care retirement community or the certificate of authority holder. (e)  The applicant or provider merges with another entity. (f)  The applicant or entity makes a material change in a pending application which requires a new application pursuant to subdivision (c) of Section 1779.8. (g)  The applicant or provider moves the continuing care retirement community from one location to another without the department’s prior approval. (h)  The applicant or provider abandons the continuing care retirement community or its obligations under the continuing care contracts. (i)  The applicant or provider is evicted from the continuing care retirement community premises. (Amended by Stats. 2000, Ch. 820, Sec. 60. Effective January 1, 2001.)
CA Health & Safety Code § 1793.8 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.8.

1793.8.  A Certificate of Authority shall be automatically inactivated when a provider voluntarily ceases to enter into continuing care contracts with new residents. The provider shall notify the department of its intention to cease entering into continuing care contracts and shall continue to comply with all provisions of this chapter until all continuing care contract obligations have been fulfilled.(Amended by Stats. 2000, Ch. 820, Sec. 61. Effective January 1, 2001.)
CA Health & Safety Code § 1793.9 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.9.

1793.9.  (a)  In the event of receivership or liquidation, all claims made against a provider based on the provider’s continuing care contracts shall be preferred claims against all assets owned by the provider. However, these preferred claims shall be subject to any perfected claims secured by the provider’s assets. (b)  If the provider is liquidated, residents who have executed a refundable continuing care contract shall have a preferred claim to liquid assets held in the refund reserve pursuant to Section 1792.6. This preferred claim shall be superior to all other claims from residents without refundable contracts or other creditors. If this fund and any other available assets are not sufficient to fulfill the refund obligations, each resident shall be distributed a proportionate amount of the refund reserve funds determined by dividing the amount of each resident’s refund due by the total refunds due and multiplying that percentage by the total funds available. (c)  For purposes of computing the reserve required pursuant to Sections 1792.2 and 1793, the liens required under Section 1793.15 are not required to be deducted from the value of real or personal property. (Amended by Stats. 2002, Ch. 553, Sec. 5. Effective January 1, 2003.)
CA Health & Safety Code § 1793.11 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.11.

1793.11.  (a)  Any transfer of money or property, pursuant to a continuing care contract found by the department to be executed in violation of this chapter, is voidable at the option of the resident or transferor for a period of 90 days from the execution of the transfer. (b)  Any deed or other instrument of conveyance shall contain a recital that the transaction is made pursuant to rescission by the resident or transferor within 90 days from the date of first occupancy. (c)  No action may be brought for the reasonable value of any services rendered between the date of transfer and the date the resident disaffirms the continuing care contract. (d)  With respect to real property, the right of disaffirmance or rescission is conclusively presumed to have terminated if a notice of intent to rescind is not recorded with the county recorder of the county in which the real property is located within 90 days from the date of first occupancy of the residential living unit. (e)  A transfer of money or property, real or personal, to anyone pursuant to a continuing care contract that was not approved by the department is voidable at the option of the department or transferor or his or her assigns or agents. (f)  A transaction determined by the department to be in violation of this chapter is voidable at the option of the resident or his or her assignees or agents. (Amended by Stats. 2000, Ch. 820, Sec. 63. Effective January 1, 2001.)
CA Health & Safety Code § 1793.13 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.13.

1793.13.  (a) The department may require a provider to submit a financial plan, if either of the following applies:(1) A provider fails to file a complete annual report as required by Section 1790.(2) The department has reason to believe that the provider is insolvent, is in imminent danger of becoming insolvent, is in a financially unsound or unsafe condition, or that its condition is such that it may otherwise be unable to fully perform its obligations pursuant to continuing care contracts.(b) A provider shall submit its financial plan to the department within 60 days following the date of the department’s request. The financial plan shall explain how and when the provider will rectify the problems and deficiencies identified by the department.(c) The department shall approve or disapprove the plan within 30 days of its receipt.(d) If the plan is approved, the provider shall immediately implement the plan.(e) If the plan is disapproved, or if it is determined that the plan is not being fully implemented, the department may consult with its financial consultants to develop a corrective action plan at the provider’s expense, or require the provider to obtain new or additional management capability approved by the department to solve its difficulties. A reasonable period, as determined by the department, shall be allowed for the reorganized management to develop a plan which, subject to the approval of the department, will reasonably assure that the provider will meet its responsibilities under the law.(Amended by Stats. 2011, Ch. 32, Sec. 13. (AB 106) Effective June 29, 2011. Operative January 1, 2012, by Sec. 73 of Stats. 2011, Ch. 32.)
CA Health & Safety Code § 1793.15 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.15.

1793.15.  (a)  When necessary to secure an applicant’s or a provider’s performance of its obligations to depositors or residents, the department may record a notice or notices of lien on behalf of the depositors or residents. From the date of recording, the lien shall attach to all real property owned or acquired by the provider during the pendency of the lien, provided the property is not exempt from the execution of a lien and is located within the county in which the lien is recorded. The lien shall have the force, effect, and priority of a judgment lien. (b)  The department may record a lien on any real property owned by the provider if the provider’s annual report indicates the provider has an unfunded statutory or refund requirement. A lien filed pursuant to this section shall have the effect, force, and priority of a judgment lien filed against the property. (c)  The department shall file a release of the lien if the department determines that the lien is no longer necessary to secure the applicant’s or provider’s performance of its obligations to the depositors or residents. (d)  Within 10 days following the department’s denial of a request for a release of the lien, the applicant or provider may file an appeal with the department. (e)  The department’s final decision shall be subject to court review pursuant to Section 1094.5 of the Code of Civil Procedure, upon petition of the applicant or provider filed within 30 days of service of the decision. (Amended by Stats. 2000, Ch. 820, Sec. 65. Effective January 1, 2001.)
CA Health & Safety Code § 1793.17 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.17.

1793.17.  (a)  When necessary to secure the interests of depositors or residents, the department may require that the applicant or provider reestablish an escrow account, return previously released moneys to escrow, and escrow all future entrance fee payments. (b)  The department may release funds from escrow as it deems appropriate or terminate the escrow requirement when it determines that the escrow is no longer necessary to secure the performance of all obligations of the applicant or provider to depositors or residents. (Amended by Stats. 2000, Ch. 820, Sec. 66. Effective January 1, 2001.)
CA Health & Safety Code § 1793.19 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 2 - LICENSING PROVISIONS|CHAPTER 10 - Continuing Care Contracts|ARTICLE 7 - Offenses and Penalties|Section 1793.19.

1793.19.  The civil, criminal, and administrative remedies available to the department pursuant to this article are not exclusive and may be sought and employed by the department, in any combination to enforce this chapter.(Amended by Stats. 2000, Ch. 820, Sec. 67. Effective January 1, 2001.)