MA S478

Requires continuing care retirement community providers to give prospective residents a separate "Disclosure of Entrance Fee Refund" document before collecting the full entrance fee

Disclosure must clearly state the amount of entrance fee to be refunded and the terms, conditions, and process for obtaining refunds when a resident leaves or dies

Prospective residents must sign the disclosure document prior to paying the full entrance fee

Waiting list fees are exempt from this disclosure requirement

Amends Section 76 of Chapter 93 of the Massachusetts General Laws by adding a new paragraph (c)(9)