Section 1793.83 Of Article 9. Continuing Care Retirement Community Closures From California Health And Safety Code >> Division 2. >> Chapter 10. >> Article 9.
1793.83
. (a) When there is a permanent closure, as defined in
paragraph (3) of subdivision (p) of Section 1771, within 30 days of
submitting the relocation plan to the department, the provider shall
fund a reserve, set up a trust fund, or secure a performance bond to
ensure the fulfillment of the obligations and commitments associated
with the relocation plan. The amount of the reserve trust fund or
performance bond shall be equal to or greater than the estimated
costs of relocating residents and the costs associated with the
relocation options pursuant to Section 1793.81 and subdivision (a) of
Section 1793.82.
(b) The reserve, trust fund, or performance bond shall be funded
with qualifying assets enumerated in paragraphs (1) to (5),
inclusive, of subdivision (a) of Section 1792.2 and shall not be
subject to any liens, judgments, garnishments, or creditor's claims.