The legislature finds that continuing care retirement communities are becoming an integral part of and a necessary alternative in meeting the long term residential, social, and health maintenance needs of the senior citizens of this state. The legislature recognizes the need for full disclosure of the terms of agreement between residents and the provider to establish minimum requirements to help insure the financial viability of the providers. The legislature further determines that the minimum requirements established herein are necessary to protect the interests of all citizens who may be served by the providers.
Acts No. 1987, No. 483, §1.