Cross-collateralization limited

Act 82 of 1984, § 13, under CONTINUING-CARE PROVIDER REGISTRATION AND DISCLOSURE ACT.

Act 82 of 1984, § 13

Section 13. Cross-collateralization limited.

Only the unencumbered assets of a continuing-care facility may be pledged by the provider as collateral for the purpose of securing loans for other continuing-care facilities, whether proposed or existing.