Texas Health and Safety Code

§ 246.050 — CONTENTS OF DISCLOSURE STATEMENT: FINANCIAL INFORMATION

HS § 246.050Title 4. HEALTH FACILITIES · Part B. LICENSING OF HEALTH FACILITIES · Ch. 246. CONTINUING CARE FACILITIES · Art. C. CONTINUING CARE CONTRACTS AND DISCLOSURE STATEMENTS

Statute text

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(a)The disclosure statement must:

(1)describe any provisions made or to be made to provide reserve funding or security to enable the provider to fully perform its obligations under a continuing care contract, including:

(A)the establishment of escrow accounts, trusts, or reserve funds and the manner in which those funds will be invested; and

(B)the name and experience of any individual in the direct employment of the provider who will make the investment decisions; and

(2)provide financial statements of the provider, including:

(A)a balance sheet as of the end of the most recent fiscal year; and

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Legislative history

Acts 2015, 84th Leg., R.S., Ch. 1089 (H.B. 2697), Sec. 6, eff. June 19, 2015.