Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-193 - CONTINUING CARE CONTRACTS
Section 69O-193.002 - Definitions

(1) All terms defined in Chapter 651, F.S., which are used in these rules shall have the same meaning as in Chapter 651, F.S.

(2) "Administrator or executive director" means a natural person who has the general day-to-day administrative charge of a facility.

(3) "Affiliate" means any person that exercises control over or is directly or indirectly controlled by the provider through:

(4) "Affiliated person" of another person means:

(5) "Construction of a model residence unit" means and is limited to the actual construction of a structure containing not more than one unit of each floor plan to be offered to prospective residents of the proposed facility.

(6) "Control," including the terms "controlling," "controlled by," and "under common control with", means the direct or indirect possession of the power to direct or cause the direction of the management or policies of a person, whether through ownership of voting interests or securities, by contract, or otherwise. Control is presumed to exist if a person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing 10 percent or more of the voting interests or securities of another person.

(7) "Independent consultant" means:

(8) "Long-term financing or debt" means any debt with a duration of more than twelve (12) months.

(9) "Material adverse deviation or change" means any change or extraordinary occurrence which creates or causes, or could create or cause, a provider or a facility to become insolvent or no longer financially viable.

(10) "Nominee of" means:

(11) "Occupied" means a date certain on which a resident takes possession of a unit or begins paying monthly maintenance fees, whichever occurs first.

(12) "Opening date or commencement of operations" means the day a certificate of occupancy is issued.

(13) "Payment-in-full" means that 100 percent of the entrance fee charged by a provider to a resident for a residency agreement has been paid to the provider.

(14) "Phase" means a planned incremental stage of construction in the development of a facility.

(15) "Preparation of the construction site" means, and is limited to, the clearing and grading of land of a proposed facility site, except when additional work is required to comply with any city, county, state, or federal laws, rules or ordinances in connection with the clearing and grading of a proposed facility site. Site preparation does not include the pouring of foundations or the stubbing in of plumbing.

(16) "Reservation agreement" means an agreement executed by a prospective resident or a nominee of a prospective resident for the purpose of reserving a specific unit in a facility.

(17) "Residency agreement" means an agreement executed by a resident or a nominee of a resident which gives the resident the right to occupy a unit and receive continuing care.

(18) "Total operating expenses" means all expenses incurred in the operations of a facility, net of depreciation and amortization.

(19) "Unit" means the shelter in which a resident may reside.

(20) "Waiting list deposit" means any payment made by a prospective resident to a provider in return for a preferential right to subscribe to a continuing care agreement.