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Florida Administrative Code (Last Updated: June 27, 2024) |
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69. Department of Financial Services |
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69O. OIR – Insurance Regulation |
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69O-193. Continuing Care Contracts |
1(1) Each escrow agreement or amendment required by Chapter 651, F.S., shall be filed and approved by the Office prior to its use in this state.
27(2) Each escrow agreement or amendment must be signed by:
37(a) The provider;
40(b) The escrow agent, which must be a financial institution or trust acceptable to the Office.
56(3) Each escrow agreement, in addition to all other requirements of law, must contain:
70(a) The escrow account number, 75which may be added to the agreement after the form of the agreement has been approved by the Office;
94(b) A physical location 98in Florida where the funds may be accessed; and
107(c) A statement citing the specific provision of Chapter 651, F.S., for which the escrow agreement is drawn and for which the escrow account is established.
133Rulemaking Authority 135651.015(3) FS. 137Law Implemented 139651.022, 140651.023, 141651.033 FS. 143History–New 7-16-92, Formerly 4-193.023, Amended 9-15-05, Amended 3-12-20.
