Bill

Bill > A1196


NJ A1196

NJ A1196
Requires continuing care retirement community agreements to require refund of refundable entrance fees within one year.


summary

Introduced
01/11/2022
In Committee
06/01/2023
Crossed Over
05/25/2023
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

Requires continuing care retirement community agreements to require refund of refundable entrance fees within one year.

AI Summary

This bill requires continuing care retirement community agreements to provide that the balance of a refundable entrance fee owed to a resident must be paid no later than one year after the date the resident ceases to be a resident of the facility, regardless of the sequential refund number assigned to the unit or whether the unit has been resold. This applies to agreements entered into on or after the effective date of the bill.

Committee Categories

Health and Social Services

Sponsors (2)

Last Action

Received in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee (on 06/01/2023)

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