Indiana Statutes
§ 23-2-4-13 — Retirement home guaranty fund; creation and expiration; purpose; levy
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 2 SECURITIES AND FRANCHISES·Ch. 4 Supervision of Continuing Care Contracts
(a)There is established the Indiana retirement
home guaranty fund. The purpose of the fund is to provide a
mechanism for protecting the financial interests of residents and
contracting parties in the event of the bankruptcy of the provider.
(b)To create the fund, a guaranty association fund fee of one
hundred dollars ($100) shall be levied on each contracting party who
enters into a continuing care agreement after August 31, 1982, and
before July 1, 2009. The fee shall be collected by the provider and
forwarded to the commissioner within thirty (30) days after occupancy
by the resident. Failure of the provider to collect and forward such fee
to the commissioner within that thirty (30) day period shall result in the
imposition by the commissioner of a twenty-five dollar ($25) penalty
agai
Free access — add to your briefcase to read the full text and ask questions with AI
Indiana § 23-2-4-13 (Retirement home guaranty fund; creation and expiration; purpose; levy) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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"