2020 Colorado Revised Statutes
Title 11 - Financial Institutions
Article 49. Life Care Institutions

Editor's note: This article 49 was added with relocations in 2017. Former C.R.S. section numbers are shown in editor's notes following those sections that were relocated. For a detailed comparison of this article 49, see the comparative tables located in the back of the index. 11-49-101. Definitions. As used in this article 49, unless the context otherwise requires:

1. "Aged person" means any person sixty-two years of age or older.

2. "Board" means the financial services board created in section 11-44-101.6.

3. "Commissioner" means the state commissioner of financial services, serving in accordance with section 11-44-102.

4. "Entrance fee" means the total of any initial or deferred transfer to or for the benefitof a provider of a sum of money or other property made or promised to be made as full or partial consideration for the acceptance or maintenance of a specified individual as a resident in a facility.

5. "Facility" means the place in which a provider undertakes to provide life care to aresident.

6. "Life care" means care provided, pursuant to a life care contract, for the life of anaged person, including but not limited to services such as health care, medical services, board, lodging, or other necessities.

7. "Life care contract" means a written contract to provide life care to a person for theduration of the person's life conditioned upon the transfer of an entrance fee to the provider of the services in addition to or in lieu of the payment of regular periodic charges for the care and services involved. Any life care contract payable to or for the provider in four or more installments shall be subject to the provisions of the "Uniform Consumer Credit Code", articles 1 to 9 of title 5.

8. "Living unit" means a room, apartment, or other area within a facility set aside forthe exclusive use or control of one or more identified residents.

9. "Person" means all corporations, associations, partnerships, or individuals, includingfraternal or benevolent orders or societies.

10. "Provider" means a person who undertakes to provide services in a facility pursuantto a life care contract.

11. "Resident" means any person entitled pursuant to a life care contract to receive lifecare in a facility.

12. "Third-party service providers" means any person, other than a provider, who is theholder of a management contract with a provider or who contracts with a provider to provide life care services to residents.

Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 567, § 1, effective August 9.

Editor's note: This section is similar to former § 12-13-101 as it existed prior to 2017.