New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 19 - CONTINUING CARE RETIREMENT COMMUNITY RULES
Subchapter 8 - NONBINDING RESERVATION AGREEMENTS
Section 5:19-8.2 - Application

Universal Citation: NJ Admin Code 5:19-8.2

Current through Register Vol. 56, No. 18, September 16, 2024

(a) Prior to accepting any nonbinding reservation agreements, the provider shall submit an application to the Department for certification that contains the following information:

1. The name and address of the provider;

2. The location and description of the facility to be developed;

3. The number and types of living units to be contained in the continuing care retirement community as well as a description of the services and facilities;

4. The selling price at which each living unit will be offered, together with a general description of the living unit or interest offered at that price and the estimated periodic charges;

5. The name and address of the person or firm holding the deposits and the name and location of the banking or similar institution wherein the deposits will be deposited;

6. A statement that no binding contract for a living unit will be offered or accepted until the continuing care retirement community is certified by the Department in accordance with this chapter;

7. A copy of the most recent financial statement of the provider, certified to be true and accurate by an independent public accountant;

8. A copy of all advertising material;

9. A copy of the proposed reservation agreement form;

10. Any other material deemed necessary by the Department in furtherance of the provisions of this chapter.

(b) The application shall be accompanied by a filing fee in the amount of $ 250.00.

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