Maryland SB488 amends regulations for governing bodies in retirement community providers, requiring transparency and subscriber representation.

Maryland SB488, known as the Sue Hecht Continuing Care Retirement Community Transparency Act, revises regulations for governing bodies in retirement community providers. The bill mandates that at least one member of the governing body must be a subscriber of the facility, selected by the resident association. It also requires providers to include specific information in their applications and disclosure statements, such as organizational structure, management details, and the process for selecting governing body members.

Maryland SB488 amends regulations for governing bodies in retirement community providers, requiring transparency and subscriber representation.

Maryland SB488, known as the Sue Hecht Continuing Care Retirement Community Transparency Act, revises regulations for governing bodies in retirement community providers. The bill mandates that at least one member of the governing body must be a subscriber of the facility, selected by the resident association. It also requires providers to include specific information in their applications and disclosure statements, such as organizational structure, management details, and the process for selecting governing body members.