24-A §6216. Sale or transfer of ownership
Title 24-A: MAINE INSURANCE CODE
Chapter 73: CONTINUING CARE RETIREMENT COMMUNITIES HEADING: PL 1987, C. 482, §1 (NEW)
§6216. Sale or transfer of ownership
Any provider desiring to sell or transfer ownership of a continuing care facility shall notify the superintendent and the acquiring interest shall obtain the superintendent's advance approval of the sale or transfer. The certificate of authority is nontransferable. The new owner must apply for a new certificate of authority to continue to provide continuing care at the facility. [1987, c. 482, §1 (NEW).]
SECTION HISTORY
1987, c. 482, §1 (NEW).