Indiana Statutes
§ 23-2-4-12 — Entrance fees; use
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 2 SECURITIES AND FRANCHISES·Ch. 4 Supervision of Continuing Care Contracts
Any money or property received by a provider
as an entrance fee to a continuing care retirement community
constructed or purchased after August 31, 1982, or any income earned
thereon, may be used by the provider only for purposes directly related
to the construction, maintenance, or operation of that particular
continuing care retirement community. A continuing care retirement
community in operation on September 1, 1982, may not use the
entrance fees or income earned thereon after August 31, 1982, for the
construction, operation, or maintenance of another continuing care
retirement community constructed or purchased after August 31, 1982.
As added by Acts 1982, P.L.145, SEC.1. Amended by
P.L.153-2009, SEC.11.
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Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"