Continuing Care Retirement Communities - Refunds

SB 560 requires providers of Maryland continuing care retirement communities to refund entrance fees under specific timelines when a resident terminates their agreement (due to death or their own choice). For terminations within the first 90 days of occupancy, refunds must be paid within 30 days after the resident vacates or dies, or once the unit is reoccupied or facility capacity reaches 95% for six months. For terminations after 90 days, refunds are due within 60 days under certain conditions, and providers must report to beneficiaries if units remain unoccupied beyond 9 months, with updates every 6 months until reoccupied. The law takes effect October 1, 2026, directly affecting residents and their families when leaving these facilities.