Establishes the Continuing Care Retirement Communities Act in North Carolina.

The Continuing Care Retirement Communities Act in North Carolina aims to protect residents by regulating the business of offering or providing continuing care. It requires providers to obtain a license from the North Carolina Department of Insurance. The act outlines the process for obtaining various licenses and permits, including a permit to accept deposits, a start-up certificate, a preliminary certificate, and a permanent license. It mandates that providers maintain an operating reserve and escrow accounts for entrance fees and deposits.

Establishes the Continuing Care Retirement Communities Act in North Carolina.

The Continuing Care Retirement Communities Act in North Carolina aims to protect residents by regulating the business of offering or providing continuing care. It requires providers to obtain a license from the North Carolina Department of Insurance. The act outlines the process for obtaining various licenses and permits, including a permit to accept deposits, a start-up certificate, a preliminary certificate, and a permanent license. It mandates that providers maintain an operating reserve and escrow accounts for entrance fees and deposits.