101.080 When resident eligible for refund of entrance fee; notice to resident
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/or/ors-chapter-101/continuing-care-retirement-communities/101-080·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
101.080 When resident eligible for refund of entrance fee; notice to resident.
(1)Any provider that requires any resident, as a condition of occupancy or use of the facility, to pay an entrance fee, prior to or during the first six months of occupancy in addition to monthly payments, shall provide that a percentage of that entrance fee be refunded to the resident if the residency agreement is terminated, other than by reason of death of the resident, within the first six months of occupancy.
(2)The percentage of the entrance fee to be refunded and the manner in which this percentage is calculated shall be written in boldfaced type in the residency agreement and disclosed in the initial and annual disclosure statements required by ORS 101.050 and 101.052. [Formerly 91.690; 2009 c.201 §7]