{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4921.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4921.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4921.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4921.html"}],"law_id":79430,"edition_id":1,"section_id":79430,"structure_id":14289,"section_number":"38.2-4921","catch_line":"Annual community-based continuing care disclosure statements","history":"2012, cc. 208, 303.","full_text":"A\n\nWithin four months following the end of the CBCC provider’s fiscal year, the CBCC provider shall file with the Commission and make available by written notice to each participant at no cost an annual disclosure statement that shall contain the information required for the initial disclosure statement set forth in § 38.2-4920.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 CBCC provider from participants.D\n\nIn addition to filing the annual disclosure statement, the CBCC 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 participant or prospective participant and is subject to all the requirements of this article, and the CBCC provider shall notify each participant 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 article, it shall have the right to take action pursuant to § 38.2-4931.","order_by":null,"text":{"0":{"id":284533,"text":"Within four months following the end of the CBCC provider’s fiscal year, the CBCC provider shall file with the Commission and make available by written notice to each participant at no cost an annual disclosure statement that shall contain the information required for the initial disclosure statement set forth in § 38.2-4920.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":284534,"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":284535,"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":284536,"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":284537,"text":"The annual disclosure statement shall describe the disposition of any real property acquired by the CBCC provider from participants.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B2","next_prefix":"D"},"5":{"id":284538,"text":"In addition to filing the annual disclosure statement, the CBCC 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 participant or prospective participant and is subject to all the requirements of this article, and the CBCC provider shall notify each participant 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":284539,"text":"If the Commission determines that the disclosure statement does not comply with the provisions of this article, 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":14289,"edition_id":1,"name":"Community-Based Continuing Care Providers","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":14288,"metadata":{},"date_created":"2026-06-26 03:47:37","date_modified":"2026-06-26 03:47:37","permalink":{"id":217411,"object_type":"structure","relational_id":14289,"identifier":"2","token":"38.2\/49\/2","url":"\/38.2\/49\/2\/","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":80315,"structure_id":14289,"section_number":"38.2-4918","catch_line":"Definitions","url":"\/38.2-4918\/","token":"38.2\/49\/2\/38.2-4918","metadata":false},{"id":55558,"structure_id":14289,"section_number":"38.2-4919","catch_line":"Required filing","url":"\/38.2-4919\/","token":"38.2\/49\/2\/38.2-4919","metadata":false},{"id":71360,"structure_id":14289,"section_number":"38.2-4920","catch_line":"Community-based continuing care disclosure statement; availability of disclosure statement to prospective participants","url":"\/38.2-4920\/","token":"38.2\/49\/2\/38.2-4920","metadata":false},{"id":79430,"structure_id":14289,"section_number":"38.2-4921","catch_line":"Annual community-based continuing care disclosure statements","url":"\/38.2-4921\/","token":"38.2\/49\/2\/38.2-4921","metadata":false},{"id":70186,"structure_id":14289,"section_number":"38.2-4922","catch_line":"Escrow of entrance fee to community-based continuing care providers and others","url":"\/38.2-4922\/","token":"38.2\/49\/2\/38.2-4922","metadata":false},{"id":71875,"structure_id":14289,"section_number":"38.2-4923","catch_line":"Participant's contract","url":"\/38.2-4923\/","token":"38.2\/49\/2\/38.2-4923","metadata":false}],"previous_section":{"id":71360,"structure_id":14289,"section_number":"38.2-4920","catch_line":"Community-based continuing care disclosure statement; availability of disclosure statement to prospective participants","url":"\/38.2-4920\/","token":"38.2\/49\/2\/38.2-4920","metadata":false},"next_section":{"id":70186,"structure_id":14289,"section_number":"38.2-4922","catch_line":"Escrow of entrance fee to community-based continuing care providers and others","url":"\/38.2-4922\/","token":"38.2\/49\/2\/38.2-4922","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4921\/","history_text":"

This law was first created in 2012. The record of its establishment is cataloged in chapters 208<\/a> and 303<\/a> 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.<\/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":217425,"object_type":"law","relational_id":79430,"identifier":"38.2-4921","token":"38.2\/49\/2\/38.2-4921","url":"\/38.2-4921\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4921\/","token":"38.2\/49\/2\/38.2-4921","dublin_core":{"Title":"Annual community-based continuing care disclosure statements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4921","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Within four months following the end of the CBCC provider<\/span>’s fiscal year, the CBCC provider<\/span> shall file with the Commission<\/span> and make available by written notice to each participant<\/span> at no cost an annual disclosure statement<\/span> that shall contain the information required for the initial disclosure statement<\/span> set forth in § 38.2-4920<\/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 CBCC provider<\/span> from participants<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> In addition to filing the annual disclosure statement<\/span>, the CBCC provider<\/span> shall amend<\/span> its currently filed disclosure statement<\/span> at any other time if, in the opinion<\/span> of the provider, 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 participant<\/span> or prospective participant<\/span> and is subject to all the requirements of this article, and the CBCC provider<\/span> shall notify each participant<\/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 article, 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 COMMUNITY-BASED CONTINUING CARE DISCLOSURE STATEMENTS (\u00a7 38.2-4921)\n\nA. Within four months following the end of the CBCC provider’s fiscal\nyear, the CBCC provider shall file with the Commission and make available by\nwritten notice to each participant at no cost an annual disclosure statement\nthat shall contain the information required for the initial disclosure statement\nset forth in § 38.2-4920.\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 CBCC provider from participants.\n\nD. In addition to filing the annual disclosure statement, the CBCC provider\nshall amend its currently filed disclosure statement at any other time if, in\nthe opinion 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 participant or prospective participant and is subject to all the\nrequirements of this article, and the CBCC provider shall notify each\nparticipant of the existence of such amendment or amended disclosure statement.\n\nE. If the Commission determines that the disclosure statement does not comply\nwith the provisions of this article, it shall have the right to take action\npursuant to § 38.2-4931.\n\nHISTORY: 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}}