S.C. Code Ann. § 37-11-140 – Effective date of application of certain provisions of chapter to certain continuing care retirement communities | Midpage
§ 37-11-140
S.C. Code Ann. § 37-11-140
Effective date of application of certain provisions of chapter to certain continuing care retirement communities
(A) A continuing care retirement community in operation, or for which binding financial commitments have been made, as of the effective date of this chapter is not required to meet the criteria established by the department pursuant to Section 37-11-40(1), (2), and (3) and Section 37-11-50(2) and (3) until July 1, 1992.
(B) A continuing care retirement community in operation, or for which binding financial commitments have been made, as of the effective date of this chapter, is exempt from the requirements of Section 37-11-90(B)(2) until July 1, 1994.
(C) The provisions of Section 37-11-35 do not apply to a continuing care contract entered into before the effective date of this chapter.
(D) The provisions of subsections (A), (B), and (C) do not limit the department's authority to deny, suspend, or revoke a license or assess a monetary penalty if it finds fraud or gross financial mismanagement.