Amends oversight of continuing care retirement communities in New York.
The bill amends provisions for oversight of continuing care retirement communities in New York. It grants the commissioner and superintendent powers to review and approve or reject applications, establish fees, and coordinate oversight. It also mandates annual financial statements and audits, and requires operators to maintain reserve liabilities. The bill repeals certain provisions and takes effect immediately.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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