{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4904.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4904.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4904.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4904.html"}],"law_id":63774,"edition_id":1,"section_id":63774,"structure_id":15908,"section_number":"38.2-4904","catch_line":"Annual disclosure statements","history":"1985, c. 554, \u00a7 38.1-959; 1986, c. 562; 2012, cc. 208, 303.","full_text":"A\n\nWithin 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\n\nThe annual disclosure statement shall also be accompanied by a narrative describing any material differences between:1\n\nThe prior fiscal year’s pro forma income statement, and2\n\nThe actual results of operations during that fiscal year.C\n\nThe annual disclosure statement shall describe the disposition of any real property acquired by the provider from residents of the facility.D\n\nIn 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\n\nIf 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.","order_by":null,"text":{"0":{"id":232351,"text":"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.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":232352,"text":"The annual disclosure statement shall also be accompanied by a narrative describing any material differences between:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":232353,"text":"The prior fiscal year’s pro forma income statement, and","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":232354,"text":"The actual results of operations during that fiscal year.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"C"},"4":{"id":232355,"text":"The annual disclosure statement shall describe the disposition of any real property acquired by the provider from residents of the facility.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B2","next_prefix":"D"},"5":{"id":232356,"text":"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.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"6":{"id":232357,"text":"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.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":15908,"edition_id":1,"name":"Registration of Continuing Care Providers","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":14288,"metadata":{},"date_created":"2026-06-26 04:01:42","date_modified":"2026-06-26 04:01:42","permalink":{"id":217357,"object_type":"structure","relational_id":15908,"identifier":"1","token":"38.2\/49\/1","url":"\/38.2\/49\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14288,"edition_id":1,"name":"Continuing Care Providers and Community-Based Continuing Care Providers","identifier":"49","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:47:37","date_modified":"2026-06-26 03:47:37","permalink":{"id":217355,"object_type":"structure","relational_id":14288,"identifier":"49","token":"38.2\/49","url":"\/38.2\/49\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":83470,"structure_id":15908,"section_number":"38.2-4900","catch_line":"Definitions","url":"\/38.2-4900\/","token":"38.2\/49\/1\/38.2-4900","metadata":false},{"id":84861,"structure_id":15908,"section_number":"38.2-4901","catch_line":"Registration","url":"\/38.2-4901\/","token":"38.2\/49\/1\/38.2-4901","metadata":false},{"id":69028,"structure_id":15908,"section_number":"38.2-4902","catch_line":"Disclosure statement","url":"\/38.2-4902\/","token":"38.2\/49\/1\/38.2-4902","metadata":false},{"id":61685,"structure_id":15908,"section_number":"38.2-4903","catch_line":"Availability of disclosure statement to prospective residents","url":"\/38.2-4903\/","token":"38.2\/49\/1\/38.2-4903","metadata":false},{"id":63774,"structure_id":15908,"section_number":"38.2-4904","catch_line":"Annual disclosure statements","url":"\/38.2-4904\/","token":"38.2\/49\/1\/38.2-4904","metadata":false},{"id":66671,"structure_id":15908,"section_number":"38.2-4904.1","catch_line":"Escrow of entrance fee to continuing care providers and others","url":"\/38.2-4904.1\/","token":"38.2\/49\/1\/38.2-4904.1","metadata":false},{"id":65856,"structure_id":15908,"section_number":"38.2-4905","catch_line":"Resident's contract","url":"\/38.2-4905\/","token":"38.2\/49\/1\/38.2-4905","metadata":false},{"id":78221,"structure_id":15908,"section_number":"38.2-4906","catch_line":"Repealed","url":"\/38.2-4906\/","token":"38.2\/49\/1\/38.2-4906","metadata":false},{"id":69644,"structure_id":15908,"section_number":"38.2-4910","catch_line":"Right of organization","url":"\/38.2-4910\/","token":"38.2\/49\/1\/38.2-4910","metadata":false},{"id":81292,"structure_id":15908,"section_number":"38.2-4911","catch_line":"Repealed","url":"\/38.2-4911\/","token":"38.2\/49\/1\/38.2-4911","metadata":false},{"id":62354,"structure_id":15908,"section_number":"38.2-4912","catch_line":"Special provisions for existing providers; rights of residents with certain existing providers","url":"\/38.2-4912\/","token":"38.2\/49\/1\/38.2-4912","metadata":false},{"id":84487,"structure_id":15908,"section_number":"38.2-4913","catch_line":"Repealed","url":"\/38.2-4913\/","token":"38.2\/49\/1\/38.2-4913","metadata":false},{"id":73529,"structure_id":15908,"section_number":"38.2-4917","catch_line":"Certain providers exempted","url":"\/38.2-4917\/","token":"38.2\/49\/1\/38.2-4917","metadata":false}],"previous_section":{"id":61685,"structure_id":15908,"section_number":"38.2-4903","catch_line":"Availability of disclosure statement to prospective residents","url":"\/38.2-4903\/","token":"38.2\/49\/1\/38.2-4903","metadata":false},"next_section":{"id":66671,"structure_id":15908,"section_number":"38.2-4904.1","catch_line":"Escrow of entrance fee to continuing care providers and others","url":"\/38.2-4904.1\/","token":"38.2\/49\/1\/38.2-4904.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4904\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 554 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1985 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 562; in 2012, chapters 208<\/a> and 303<\/a>.<\/p>","references":false,"refers_to":[{"id":61444,"section_number":"38.2-4931","catch_line":"Cease and desist orders; injunctions","order_by":null,"url":"\/38.2-4931\/"}],"permalink":{"id":217375,"object_type":"law","relational_id":63774,"identifier":"38.2-4904","token":"38.2\/49\/1\/38.2-4904","url":"\/38.2-4904\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4904\/","token":"38.2\/49\/1\/38.2-4904","dublin_core":{"Title":"Annual disclosure statements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4904","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Within four months following the end of the provider<\/span>’s fiscal year, each provider<\/span> shall file with the Commission<\/span> and make available by written notice to each resident<\/span> at no cost an annual disclosure statement<\/span> which shall contain the information required for the initial disclosure statement<\/span> set forth in § 38.2-4902<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The annual disclosure statement<\/span> shall also be accompanied by a narrative describing any material<\/span> differences between: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The prior fiscal year’s pro forma income statement, and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The actual results of operations during that fiscal year. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The annual disclosure statement<\/span> shall describe the disposition<\/span> of any real property acquired by the provider<\/span> from residents<\/span> of the facility<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> In addition to filing the annual disclosure statement<\/span>, the provider<\/span> shall amend<\/span> its currently filed disclosure statement<\/span> at any other time if, in the opinion<\/span> of the provider<\/span>, an amendment is necessary to prevent the disclosure statement<\/span> from containing any material<\/span> misstatement of fact<\/span> or failing to state<\/span> any material<\/span> fact<\/span> required to be stated therein. Any such amendment or amended disclosure statement<\/span> shall be filed with the Commission<\/span> before it is delivered to any resident<\/span> or prospective resident<\/span> and is subject to all the requirements of this chapter, and the provider<\/span> shall notify each resident<\/span> of the existence of such amendment or amended disclosure statement<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> If the Commission<\/span> determines that the disclosure statement<\/span> does not comply with the provisions of this chapter, it shall have the right to take action pursuant to § 38.2-4931<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nANNUAL DISCLOSURE STATEMENTS (\u00a7 38.2-4904)\n\nA. Within four months following the end of the provider’s fiscal year,\neach provider shall file with the Commission and make available by written\nnotice to each resident at no cost an annual disclosure statement which shall\ncontain the information required for the initial disclosure statement set forth\nin § 38.2-4902.\n\nB. The annual disclosure statement shall also be accompanied by a narrative\ndescribing any material differences between:\n\n 1. The prior fiscal year’s pro forma income statement, and\n\n 2. The actual results of operations during that fiscal year.\n\nC. The annual disclosure statement shall describe the disposition of any real\nproperty acquired by the provider from residents of the facility.\n\nD. In addition to filing the annual disclosure statement, the provider shall\namend its currently filed disclosure statement at any other time if, in the\nopinion of the provider, an amendment is necessary to prevent the disclosure\nstatement from containing any material misstatement of fact or failing to state\nany material fact required to be stated therein. Any such amendment or amended\ndisclosure statement shall be filed with the Commission before it is delivered\nto any resident or prospective resident and is subject to all the requirements\nof this chapter, and the provider shall notify each resident of the existence of\nsuch amendment or amended disclosure statement.\n\nE. If the Commission determines that the disclosure statement does not comply\nwith the provisions of this chapter, it shall have the right to take action\npursuant to § 38.2-4931.\n\nHISTORY: 1985, c. 554, \u00a7 38.1-959; 1986, c. 562; 2012, cc. 208, 303.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}