South Carolina Legislature


Session 110 - (1993-1994)Printer Friendly
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H 4857 General Bill, By P.B. Harris, Neilson and D.C. Waldrop
Similar (S 1224)
    A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section 37-11-95 so as to require an operator of a continuing care retirement community to obtain approval from the Department of Consumer Affairs to distribute a dividend or similar distribution; by adding Section 37-11-105 so as to require an operator of a continuing care retirement community to submit a financial plan to the Department for approval if the Department has reason to believe the operator is or may become insolvent; by amending Section 37-11-30, relating to licensing of continuing care retirement communities, so as to revise information that must accompany license applications; by amending Section 37-11-40, relating to the determination of financial responsibility of an applicant for licensure, so as to revise conditions under which a bond or other guarantee is required; and by amending Section 37-11-50, relating to eligibility for licensure, so as to provide that only those continuing care retirement communities which require payment of an entrance fee or other fee in return for a promise of future care must obtain a license rather than all continuing care retirement communities.
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03/02/94House Introduced and read first time HJ-7
03/02/94House Referred to Committee on Labor, Commerce and Industry HJ-8
04/13/94House Committee report: Favorable with amendment Labor, Commerce and Industry HJ-6
04/27/94House Amended HJ-45
04/27/94House Read second time HJ-45
04/28/94House Read third time and sent to Senate HJ-312
05/03/94Senate Introduced and read first time SJ-13
05/03/94Senate Referred to Committee on Banking and Insurance SJ-13

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