A. At the time of or before the execution of a life care contract and the transfer of any money or other property to a provider pursuant thereto, the provider shall deliver to the person with whom the life care contract is entered into:

1. 1. A disclosure statement that contains a copy of the provider's certified financial statements and feasibility study prepared according to section 20-1802 and any other information required by the director. The cover of the disclosure statement shall contain the following statement in bold-faced print: "A permit for this life care facility has been issued by the Arizona department of insurance and financial institutions. This permit does not constitute approval, recommendation or endorsement of the life care facility by the department, nor does it evidence the accuracy or completeness of the information in this statement."

2. 2. If the life care contract offers a refund, a separate disclosure document that indicates:

   1. (a) Whether an entrance fee will be charged and when the person must pay the entrance fee.
   2. (b) Whether any part of the entrance fee, or any other amount, paid at any time by the contract holder or resident will be refunded to the person or the person's heirs.
   3. (c) If a refund will be paid to the person or the person's heirs, the amount or amounts to be paid and the time for payment of the amounts.
   4. (d) The specific conditions or limits, if any, on the payment of any refund, including a requirement for reoccupancy of a vacated unit, or any other limit or condition.