Title 26 — BANKS AND BANKING

26-3701. Short title. This chapter shall be known and may be cited as the "Idaho Continuing-Care Disclosure Act."

26-3702. Statement of purpose. The legislature recognizes that continuing care communities have become an important and necessary alternative for the long-term residential, social and health maintenance needs for many of the state’s elderly citizens. The legislature finds and dec…

26-3703. Definitions. As used in this chapter: (1) "Continuing care" means the furnishing to an individual, other than an individual related by blood, marriage, or adoption to the person furnishing the care, of lodging together with nursing services, medical services, or other he…

26-3704. Registration — Annual fee. Each provider who provides continuing care services in this state shall register with the director on forms provided by the department and shall pay an annual registration fee. Such registration fee shall be fixed by the director but shall not …

26-3705. Disclosure statement of financial responsibility. As a condition to registration with the department, each provider must file evidence of financial responsibility. Said evidence shall be on registration forms provided by the director. The registration forms shall request…

26-3706. Specification for residence contracts. (1) In addition to such other provisions as may be considered proper to effectuate the purpose of any continuing care agreement, each agreement executed on and after the date of the adoption of this chapter shall be written in nonte…

26-3707. Escrow — Trust — Surety bond — Collection of deposits. (1) A provider shall establish an escrow account with a bank or a trust company, that is located in Idaho, agreed upon by the provider and the resident. The terms of this escrow account shall provide that the total a…

26-3708. Cross-collateralization prohibited. No part of the entrance fee placed in escrow may be pledged by the provider as collateral for the purpose of securing loans for any purpose other than providing for the care of the resident.

26-3709. Audits. Each provider upon annual renewal of registration shall provide to the director certified audited reports of the financial condition of the facility and shall amend the disclosure required by section 26-3704, Idaho Code, as necessary. The annual audited reports s…

26-3710. Civil liability. (1) Any person who, as a provider, or on behalf of a provider: (a) Enters into a contract for continuing care at a facility which has not registered under this chapter; (b) Enters into a contract for continuing care at a facility without having first del…

26-3711. Injunctions. Whenever it appears to the director that any person has engaged in, or is about to engage in, any act or practice constituting a violation of any provision of this chapter or any rule or order hereunder, the director may: (1) Issue an order directed at any s…

26-3712. Denial, suspension, revocation of registration — Grounds. The director may by order deny, suspend or revoke registration of any provider: (1) If he finds the order is in the public interest; or (2) Any of the conditions described in section 26-3705(2)(c), Idaho Code, app…

26-3713. Oaths — Subpoenas — Punishment — Exemption from criminal prosecution for testimony. For the purpose of any investigation or proceeding under this chapter the director or any officer designated by him may administer oaths and affirmations, subpoena witnesses, compel their…

26-3714. Criminal penalties. (1) Any person who willfully and knowingly violates any provision of this chapter, or any rule or order under the chapter, shall be guilty of a misdemeanor and be sentenced to pay a fine of not more than one thousand dollars ($1,000) or imprisonment f…

26-3715. Regulatory authority. The director shall have the authority to adopt, amend or repeal such rules as are reasonably necessary for the enforcement of the provisions of this chapter.