New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 19 - CONTINUING CARE RETIREMENT COMMUNITY RULES
Subchapter 4 - DISCLOSURE STATEMENT
Section 5:19-4.1 - Disclosure statement required

(a) The disclosure statement shall disclose fully and accurately the characteristics of the facility and the interests offered and shall make known to prospective residents all unusual and material circumstances and features affecting the facility.

(b) The disclosure statement shall be in clear and plain language understandable by a lay person and shall combine simplicity and accuracy in order to fully advise residents of their rights, privileges, obligations, and restrictions. The disclosure described in this section shall also reflect all of the terms required pursuant to the Bill of Rights for Continuing Care Retirement Community Residents in Independent Living Act ( P.L. 2013, c. 167, 52:27D-360.1 et al.) and N.J.A.C. 5:19-9, including a clear explanation of the rights and responsibilities of the residents of the facility.

(c) The Department may require the provider to alter or amend the proposed disclosure statement in order to assure full and fair disclosure to prospective residents and may require the revision of a disclosure statement which it finds to be unnecessarily complex, confusing, unclear, or illegible. The obligation of full and fair disclosure shall be a continuing obligation of the facility and its operators, contractors, and principals.

(d) The provider shall provide a disclosure statement to a prospective resident of a continuing care facility or the person with whom the provider shall enter into a contract to provide continuing care, prior to the execution of the contract or at the time of or prior to the transfer of any money or other property to the provider by or on behalf of the prospective resident, whichever occurs first, at no charge to the prospective resident.

(e) A disclosure statement shall not be deemed current unless it contains all amendments filed with the Department.