Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-193 - CONTINUING CARE CONTRACTS
Section 69O-193.033 - Hazardous or Injurious Transactions, Methods, or Practices

(1) Repeated violations of Part IX of Chapter 626, F.S., entitled "Unfair Insurance Trade Practices";

(2) Payment or distribution of funds, other than salaries and wages earned in the normal course of business, to a provider or any affiliate when:

(3) Employing or contracting with persons to perform supervisory or policy roles or perform consulting work, who are unable to provide proper oversight or services due to limited, unsuccessful, or no experience in owning, operating, or managing a continuing care facility or in providing continuing care or consulting in the field of continuing care;

(4) Accepting full or partial payment of an entrance fee for a continuing care agreement when a facility is insolvent or in imminent danger of becoming insolvent or no longer financially viable, unless 100 percent of such funds are escrowed pursuant to an agreement with the Office;

(5) Failure to keep current and fulfill the marketing or financial projections forecast or projected in a feasibility study or any supplemental feasibility study submitted to the Office;

(6) Failure to file required reports;

(7) Failure of a licensed provider to fulfill its obligations to residents;

(8) Failure of the board of directors or similar body of a licensed provider to properly supervise or provide oversight of the activities of an administrator or management company;

(9) Failure by the board of directors or similar body to properly set policy and ensure that those policies are fulfilled; or

(10) Failure to disclose related party transactions which may be detrimental to the residents.