Part 3 — .1
41.3 Life lease requirements
must include provisions respecting
(a) the collection and use of entrance fees,
(b) the return of entrance fees, including the timing of and
conditions for a return,
(c) cancellation rights respec ting the life lease, including
(i) a minimum 10-day cancellation period for a leaseholder
after the leaseholder has signed a life lease,
(ii) notice requirements for cancellation, and
(iii) conditions respecting cancellation,
(d) termination rights respec ting the life lease, including
(i) notice requirements for termination, and
(ii) conditions respecting termination,
(e) occupancy fees, including
(i) conditions for the increase of those fees,
(ii) notice requirements for t he increase of those fees, and
(iii) the allowable freq uency of increases,
(f) lease operat or obligations,
(g) leaseholder obligations, and
(h) any other provisions required under section 41.5 or by the
regulations.
(2) A lease operator shall use a form of life lease that complies
with subsection (1), section 41.5 and the regulations.
2024 c3 s3