(a) Sections 33.302, 33.303, 33.305, 33.307, and 33.308 of this title apply to continuing care in residence.
(b) The organization and elements of the disclosure statement, including any revisions, must follow the format in CCRC Form 6b (FIN605). The disclosure statement or revision must be submitted in compliance with CCRC Form 6a (FIN389).
(c) The disclosure statement must be submitted to the department before any of the following occur:
  (1) the provider contracts to provide continuing care in residence in Texas;
  (2) the provider extends the term of an existing contract to provide continuing care in residence in Texas; or
  (3) the provider or provider's agent solicits a continuing care contract in Texas for an individual who resides in Texas at the time of the solicitation. A continuing care contract is considered solicited if, during the 12-month period preceding the date on which the continuing care contract is signed or accepted by either party, information concerning the availability of the continuing care in residence contract is given:
    (A) by personal, telephone, mail, or other communication directed to and received by a person at a location in Texas; or
    (B) in paid advertisements published or broadcast from within Texas, other than in a publication in which more than two-thirds of the circulation is outside Texas.
(d) The provider must submit the initial and annual revisions of the disclosure statement not later than 120 days after the end of the provider's fiscal year. If the 120th day falls on a weekend or on a recognized state or federal holiday, the due date is the next business day.
(e) The disclosure statement must also include the following:
  (1) annual audited financial statements as defined in §33.2 of this title;
  (2) annual actuarial review; and
  (3) information about how the amortization schedules in care in residence contracts are calculated and applied to releases described under §33.104(b) of this title.
(f) No less than 30 days before entering into a contract with a third-party to manage the provider's continuing care in residence operations, a provider must submit one copy of the management contract to the department as set out in §33.9 of this title.

Source Note: The provisions of this §33.103 adopted to be effective April 17, 2019, 44 TexReg 1867