AZ HB2199

Amends Arizona Revised Statutes section 20-1812 regarding disclosure requirements for life care contracts.

Requires providers to deliver a disclosure statement containing certified financial statements, feasibility study, and other information required by the director at or before execution of the contract.

Mandates a separate disclosure document for life care contracts offering refunds that specifies entrance fees, refund amounts and timing, conditions or limits on refunds, and other material terms.

Requires refund disclosure language in at least ten-point boldface type, signed by contract holder and spouse/partner if applicable, witnessed by at least two independent persons, and separately initialed by the purchaser.

Applies to both new and existing life care contracts.