The escrow agent shall return an entrance fee to the person who paid it if the fee is not released to the provider or placed in the loan reserve fund escrow required under Section 246.077:

1. (1) not later than 36 months after the date on which any portion of the entrance fee is received by the provider;
2. (2) within the time period specified by the provider in the disclosure statement delivered with the continuing care contract under which the fee was paid, if the specified time period is longer than the time period under Subdivision (1); or

3. (3) if any of the following events occur, as soon as practicable after the date the event occurs:

   1. (A) the prospective resident dies before occupying a unit;
   2. (B) construction on a facility not yet in operation is stopped indefinitely before the facility is completed; or
   3. (C) a continuing care contract is rescinded under Section 246.056.

Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.

Amended by Acts 1991, 72nd Leg., ch. 14, Sec. 106, eff. Sept. 1, 1991;

Acts 1993, 73rd Leg., ch. 953, Sec. 10, eff. Sept. 1, 1993.

Acts 2025, 89th Leg., R.S., Ch. 836 (S.B. 1522), Sec. 14, eff. January 1, 2026.