{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-4922.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-4922.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-4922.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-4922.html"}],"law_id":70186,"edition_id":1,"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","history":"2012, cc. 208, 303.","full_text":"A\n\nA CBCC provider shall maintain in escrow with a bank or trust company, or other escrow agent approved by the Commission, all CBCC entrance fees or portions thereof in excess of $1,000 per person received by the CBCC provider prior to the date the participant is permitted to enroll and receive services in the CBCC program. Funds or assets deposited therein shall be kept and maintained in an account separate and apart from the CBCC provider’s business accounts. For the purposes of this section only, the term “CBCC entrance fee” shall include within its meaning any advanced payment or series of advanced payments totaling $1,000 or more, and the term “CBCC provider” shall include any person or entity that would be included in the definition thereof in § 38.2-4918 if such fee of $1,000 or more constituted a CBCC entrance fee for the purposes of the definition of “community-based continuing care” in § 38.2-4918.B\n\nAll funds or assets deposited in the escrow account shall remain the property of the prospective participant until released to the CBCC provider in accordance with this section. The funds or assets shall not be subject to any liens, judgments, garnishments, or creditor’s claims against the provider or facility. The escrow agreement may provide that charges by the escrow agent may be deducted from the funds or assets if such provision is disclosed in the disclosure statement.C\n\nAll funds or assets deposited in escrow pursuant to this section shall be released to the CBCC provider when the provider presents to the escrow agent evidence that the corporation has been deemed eligible to begin service and enter into permanent contracts.D\n\nNotwithstanding any other provision of this section, all funds or assets deposited in escrow pursuant to this section shall be released according to the terms of the escrow agreement to the prospective participant from whom it was received (i) if such funds or assets have not been released within three years after placement in escrow (but in any event within six years after placement in escrow unless specifically approved by the Commission) or within such longer period as determined appropriate by the Commission in writing, (ii) if the prospective participant dies before enrolling and receiving services from the program, or (iii) upon rescission of the CBCC contract pursuant to provisions in the CBCC contract or in this article. Funds or assets subject to release under clause (i) of this subsection or under subsection C may be held in escrow for an additional period at the mutual consent of the provider and the prospective participant; however, the prospective participant may consent to such additional period only after his deposit has been held in escrow for at least two years. Clause (i) of this subsection shall not apply if fees are refundable within 30 days of request for refund.E\n\nUnless otherwise specified in the escrow agreement, funds or assets in an escrow account pursuant to this section may be held in the form received or if invested shall be invested in instruments authorized for the investment of public funds as set forth in Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2 and not in default as to principal or interest.F\n\nThis section shall not apply to application or reservation fees whether or not such fees are considered to be a portion of the CBCC entrance fee, provided such application or reservation fees are not in excess of $1,000 per person.","order_by":null,"text":{"0":{"id":253453,"text":"A CBCC provider shall maintain in escrow with a bank or trust company, or other escrow agent approved by the Commission, all CBCC entrance fees or portions thereof in excess of $1,000 per person received by the CBCC provider prior to the date the participant is permitted to enroll and receive services in the CBCC program. Funds or assets deposited therein shall be kept and maintained in an account separate and apart from the CBCC provider’s business accounts. For the purposes of this section only, the term “CBCC entrance fee” shall include within its meaning any advanced payment or series of advanced payments totaling $1,000 or more, and the term “CBCC provider” shall include any person or entity that would be included in the definition thereof in § 38.2-4918 if such fee of $1,000 or more constituted a CBCC entrance fee for the purposes of the definition of “community-based continuing care” in § 38.2-4918.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":253454,"text":"All funds or assets deposited in the escrow account shall remain the property of the prospective participant until released to the CBCC provider in accordance with this section. The funds or assets shall not be subject to any liens, judgments, garnishments, or creditor’s claims against the provider or facility. The escrow agreement may provide that charges by the escrow agent may be deducted from the funds or assets if such provision is disclosed in the disclosure statement.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":253455,"text":"All funds or assets deposited in escrow pursuant to this section shall be released to the CBCC provider when the provider presents to the escrow agent evidence that the corporation has been deemed eligible to begin service and enter into permanent contracts.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":253456,"text":"Notwithstanding any other provision of this section, all funds or assets deposited in escrow pursuant to this section shall be released according to the terms of the escrow agreement to the prospective participant from whom it was received (i) if such funds or assets have not been released within three years after placement in escrow (but in any event within six years after placement in escrow unless specifically approved by the Commission) or within such longer period as determined appropriate by the Commission in writing, (ii) if the prospective participant dies before enrolling and receiving services from the program, or (iii) upon rescission of the CBCC contract pursuant to provisions in the CBCC contract or in this article. Funds or assets subject to release under clause (i) of this subsection or under subsection C may be held in escrow for an additional period at the mutual consent of the provider and the prospective participant; however, the prospective participant may consent to such additional period only after his deposit has been held in escrow for at least two years. Clause (i) of this subsection shall not apply if fees are refundable within 30 days of request for refund.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":253457,"text":"Unless otherwise specified in the escrow agreement, funds or assets in an escrow account pursuant to this section may be held in the form received or if invested shall be invested in instruments authorized for the investment of public funds as set forth in Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2 and not in default as to principal or interest.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":253458,"text":"This section shall not apply to application or reservation fees whether or not such fees are considered to be a portion of the CBCC entrance fee, provided such application or reservation fees are not in excess of $1,000 per person.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4922\/","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":[{"id":80315,"section_number":"38.2-4918","catch_line":"Definitions","order_by":null,"url":"\/38.2-4918\/"}],"refers_to":[{"id":65575,"section_number":"2.2-4500","catch_line":"Legal investments for public sinking funds","order_by":null,"url":"\/2.2-4500\/"},{"id":80315,"section_number":"38.2-4918","catch_line":"Definitions","order_by":null,"url":"\/38.2-4918\/"}],"permalink":{"id":217429,"object_type":"law","relational_id":70186,"identifier":"38.2-4922","token":"38.2\/49\/2\/38.2-4922","url":"\/38.2-4922\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-4922\/","token":"38.2\/49\/2\/38.2-4922","dublin_core":{"Title":"Escrow of entrance fee to community-based continuing care providers and others","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4922","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A CBCC provider<\/span> shall maintain in escrow with a bank or trust company<\/span>, or other escrow agent approved by the Commission<\/span>, all CBCC entrance fees<\/span> or portions thereof in excess of $1,000 per person<\/span> received by the CBCC provider<\/span> prior to the date the participant<\/span> is permitted to enroll and receive services in the CBCC program. Funds or assets<\/span> deposited therein shall be kept and maintained in an account separate and apart from the CBCC provider<\/span>’s business accounts. For the purposes of this section only, the term “CBCC entrance fee<\/span>” shall include within its meaning any advanced payment or series of advanced payments totaling $1,000 or more, and the term “CBCC provider<\/span>” shall include any person<\/span> or entity that would be included in the definition thereof in § 38.2-4918<\/a> if such fee of $1,000 or more constituted a CBCC entrance fee<\/span> for the purposes of the definition of “community-based continuing care<\/span>” in § 38.2-4918<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> All funds or assets<\/span> deposited in the escrow account shall remain the property of the prospective participant<\/span> until released to the CBCC provider<\/span> in accordance with this section. The funds or assets<\/span> shall not be subject to any liens<\/span>, judgments<\/span>, garnishments<\/span>, or creditor<\/span>’s claims against the provider or facility. The escrow agreement may provide that charges by the escrow agent may be deducted from the funds or assets<\/span> if such provision is disclosed in the disclosure statement<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> All funds or assets<\/span> deposited in escrow pursuant to this section shall be released to the CBCC provider<\/span> when the provider presents to the escrow agent evidence<\/span> that the corporation has been deemed eligible to begin service and enter into permanent contracts<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Notwithstanding any other provision of this section, all funds or assets<\/span> deposited in escrow pursuant to this section shall be released according to the terms of the escrow agreement to the prospective participant<\/span> from whom it was received (i) if such funds or assets<\/span> have not been released within three years after placement in escrow (but in any event within six years after placement in escrow unless specifically approved by the Commission<\/span>) or within such longer period as determined appropriate by the Commission<\/span> in writing, (ii) if the prospective participant<\/span> dies before enrolling and receiving services from the program, or (iii) upon rescission of the CBCC contract<\/span> pursuant to provisions in the CBCC contract<\/span> or in this article. Funds or assets<\/span> subject to release under clause (i) of this subsection or under subsection C may be held in escrow for an additional period at the mutual consent of the provider and the prospective participant<\/span>; however, the prospective participant<\/span> may consent to such additional period only after his deposit has been held in escrow for at least two years. Clause (i) of this subsection shall not apply if fees are refundable within 30 days of request for refund. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Unless otherwise specified in the escrow agreement, funds or assets<\/span> in an escrow account pursuant to this section may be held in the form received or if invested shall be invested in instruments authorized for the investment of public funds as set forth in Chapter 45 (§ 2.2-4500<\/a> et seq.) of Title 2.2 and not in default<\/span> as to principal or interest. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> This section shall not apply to application or reservation fees whether or not such fees are considered to be a portion of the CBCC entrance fee<\/span>, provided such application or reservation fees are not in excess of $1,000 per person<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nESCROW OF ENTRANCE FEE TO COMMUNITY-BASED CONTINUING CARE PROVIDERS AND OTHERS\n(\u00a7 38.2-4922)\n\nA. A CBCC provider shall maintain in escrow with a bank or trust company, or\nother escrow agent approved by the Commission, all CBCC entrance fees or\nportions thereof in excess of $1,000 per person received by the CBCC provider\nprior to the date the participant is permitted to enroll and receive services in\nthe CBCC program. Funds or assets deposited therein shall be kept and maintained\nin an account separate and apart from the CBCC provider’s business\naccounts. For the purposes of this section only, the term “CBCC entrance\nfee” shall include within its meaning any advanced payment or series of\nadvanced payments totaling $1,000 or more, and the term “CBCC\nprovider” shall include any person or entity that would be included in the\ndefinition thereof in § 38.2-4918 if such fee of $1,000 or more constituted\na CBCC entrance fee for the purposes of the definition of “community-based\ncontinuing care” in § 38.2-4918.\n\nB. All funds or assets deposited in the escrow account shall remain the property\nof the prospective participant until released to the CBCC provider in accordance\nwith this section. The funds or assets shall not be subject to any liens,\njudgments, garnishments, or creditor’s claims against the provider or\nfacility. The escrow agreement may provide that charges by the escrow agent may\nbe deducted from the funds or assets if such provision is disclosed in the\ndisclosure statement.\n\nC. All funds or assets deposited in escrow pursuant to this section shall be\nreleased to the CBCC provider when the provider presents to the escrow agent\nevidence that the corporation has been deemed eligible to begin service and\nenter into permanent contracts.\n\nD. Notwithstanding any other provision of this section, all funds or assets\ndeposited in escrow pursuant to this section shall be released according to the\nterms of the escrow agreement to the prospective participant from whom it was\nreceived (i) if such funds or assets have not been released within three years\nafter placement in escrow (but in any event within six years after placement in\nescrow unless specifically approved by the Commission) or within such longer\nperiod as determined appropriate by the Commission in writing, (ii) if the\nprospective participant dies before enrolling and receiving services from the\nprogram, or (iii) upon rescission of the CBCC contract pursuant to provisions in\nthe CBCC contract or in this article. Funds or assets subject to release under\nclause (i) of this subsection or under subsection C may be held in escrow for an\nadditional period at the mutual consent of the provider and the prospective\nparticipant; however, the prospective participant may consent to such additional\nperiod only after his deposit has been held in escrow for at least two years.\nClause (i) of this subsection shall not apply if fees are refundable within 30\ndays of request for refund.\n\nE. Unless otherwise specified in the escrow agreement, funds or assets in an\nescrow account pursuant to this section may be held in the form received or if\ninvested shall be invested in instruments authorized for the investment of\npublic funds as set forth in Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2\nand not in default as to principal or interest.\n\nF. This section shall not apply to application or reservation fees whether or\nnot such fees are considered to be a portion of the CBCC entrance fee, provided\nsuch application or reservation fees are not in excess of $1,000 per person.\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}}