§ 38.2-4904 Annual disclosure statements
A. Within four months following the end of the provider’s fiscal year, each provider shall file with the Commission and make available by written notice to each resident at no cost an annual disclosure statement which shall contain the information required for the initial disclosure statement set forth in § 38.2-4902.
B. The annual disclosure statement shall also be accompanied by a narrative describing any material differences between:
2. The actual results of operations during that fiscal year.
C. The annual disclosure statement shall describe the disposition of any real property acquired by the provider from residents of the facility.
D. In addition to filing the annual disclosure statement, the provider shall amend its currently filed disclosure statement at any other time if, in the opinion of the provider, an amendment is necessary to prevent the disclosure statement from containing any material misstatement of fact or failing to state any material fact required to be stated therein. Any such amendment or amended disclosure statement shall be filed with the Commission before it is delivered to any resident or prospective resident and is subject to all the requirements of this chapter, and the provider shall notify each resident of the existence of such amendment or amended disclosure statement.
E. If the Commission determines that the disclosure statement does not comply with the provisions of this chapter, it shall have the right to take action pursuant to § 38.2-4931.
History
This law was first created in 1985. The record of its establishment is cataloged in chapter 554 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1985 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 562; in 2012, chapters 208 and 303.
1985, c. 554, § 38.1-959; 1986, c. 562; 2012, cc. 208, 303.