Sec.17b-533-3. Disclosure statements: form and content

(a) There shall be one disclosure statement for each facility.

(1) No representation shall be made on the cover page or elsewhere in any disclosure statement as to the validity of the disclosure statement, a period of time during which the disclosure statement remains valid or effective, or which in any manner indicates, infers, or represents that the disclosure statement is effective or valid.

(2) The disclosure statement must include a cover page, table of contents, and the information required by the Act and these regulations.

(3) In addition to such other items as a provider may wish to list therein, the Table of Contents must include the following headings, in prominent type, to identify where in the disclosure statement, or the continuing-care contract, the information required by the Act is located: (Numerical reference is to the subsections of C.G.S. Section 17b-522 (a).):

NAME AND ADDRESS OF PROVIDER	(1)
OFFICERS, DIRECTORS, AND TRUSTEES	(2)
BUSINESS EXPERIENCE	(3)
JUDICIAL PROCEEDINGS	(4)
AFFILIATION	(5)
DESCRIPTION OF PROPERTY	(6)
BENEFITS INCLUDED	(7)
INTEREST ON DEPOSITS	(8)
TERMINATION OF CONTRACT	(9)
RIGHTS OF A SURVIVING SPOUSE	(10)
MARRIAGE OF A RESIDENT	(11)
DISPOSITION OF PERSONAL PROPERTY	(12)
TAX CONSEQUENCES	(13)
RESERVE FUNDING - ESCROWS	(14)
FINANCIAL STATEMENTS	(15)
SOURCE OF FUNDS (if facility is not in operation)	(16)
PRO FORMA INCOME STATEMENTS	(17)
ENTRANCE FEES/PERIODIC CHARGES	(18)
PRE-PAID OBLIGATIONS, ACTUARIAL VALUE	(19)
DEPARTMENT ON AGING - FILINGS	(20)
CONTINUING-CARE CONTRACT	(21) (c)

(4) A disclosure statement may utilize a table of contents other than as set forth in subsection (3) if, when submitted for filing, the disclosure statement is accompanied by an index which cross-references the requirements of subsection (3) above with the table of contents in the disclosure statement.

(5) The disclosure statement may include the required information in any order, at the discretion of the provider, provided that the Table of Contents or separate index clearly sets forth the location of the required information.

(6) The disclosure statement shall be assembled into one document, except if a provider shall determine that financial and actuarial data can be more conveniently or logically combined into one separate document, then two documents may be submitted as the disclosure statement.

(b) A disclosure statement submitted to the department for filing may be accompanied by an actuarial certificate, signed by a member in good standing of the American Academy of Actuaries, stating that financial and actuarial projections have been made upon an actuarially sound basis in accordance with accepted actuarial principles. In that event, the initial requirements for filing in regard to actuarial soundness shall be deemed to have been met.

(c)

(1) Actions initiated by the Attorney General against a provider in regard to non-compliance with the Act or these regulations shall, if not concluded, be affirmatively disclosed in disclosure statements filed subsequent to the initiation of such action by inclusion of a statement, under the heading JUDICIAL PROCEEDINGS, to the effect that such an action or actions have been instituted and are continuing. In such event, the provider shall initiate the filing of a revised disclosure statement not later than one (1) year from the date on which any such action is initiated.

(2) The requirements set forth in subsection (c) (1), above, may be waived by the commissioner upon application in writing by a provider, if the commissioner determines that the action or actions instituted arose by reason of the existence of a good faith dispute as to the scope or applicability of the Act or the regulations.

(3) If there are no proceedings to be reported under the heading JUDICIAL PROCEEDINGS, the disclosure statement shall contain an affirmative statement to that effect. Both the heading and this statement shall be omitted from the disclosure statement if the only disclosure required had been in regard to actions brought by the Attorney General, and the disclosure of such action had been waived pursuant to subsection (c) (2), above.

(d) If the manner in which periodic charges or other recurring fees may be adjusted is not set forth with specificity in the contract, by formula or otherwise, but rather indicates a general basis therefor, such as, "increases in taxes, and maintenance costs of the facility," then the disclosure statement shall include a statement to the effect that periodic charges (or other recurring fees) may be made at the discretion of the provider. Such a statement shall be included under the heading "Entrance Fees/Periodic Charges."

(e) A disclosure statement for a continuing care retirement community at which any incident of ownership is or may be transferred in whole or in part shall meet the foregoing requirements, and in addition, the proposed documents which would transfer any incident of ownership shall be included under item "(21)."

(Effective January 31, 1996)