A. Within four months following the end of the provider's fiscal year, eachprovider shall file with the Commission and make available by written noticeto each resident at no cost an annual disclosure statement which shallcontain the information required for the initial disclosure statement setforth in § 38.2-4902.
B. The annual disclosure statement shall also be accompanied by a narrativedescribing any material differences between:
1. The prior fiscal year's pro forma income statement, and
2. The actual results of operations during that fiscal year.
C. The annual disclosure statement shall describe the disposition of any realproperty acquired by the provider from residents of the facility.
D. In addition to filing the annual disclosure statement, the provider shallamend its currently filed disclosure statement at any other time if, in theopinion of the provider, an amendment is necessary to prevent the disclosurestatement from containing any material misstatement of fact or failing tostate any material fact required to be stated therein. Any such amendment oramended disclosure statement shall be filed with the Commission before it isdelivered to any resident or prospective resident and is subject to all therequirements of this chapter, and the provider shall notify each resident ofthe existence of such amendment or amended disclosure statement.
E. If the Commission determines that the disclosure statement does not complywith the provisions of this chapter, it shall have the right to take actionpursuant to § 38.2-4915.
A. Within four months following the end of the provider's fiscal year, eachprovider shall file with the Commission and make available by written noticeto each resident at no cost an annual disclosure statement which shallcontain the information required for the initial disclosure statement setforth in § 38.2-4902.
B. The annual disclosure statement shall also be accompanied by a narrativedescribing any material differences between:
1. The prior fiscal year's pro forma income statement, and
2. The actual results of operations during that fiscal year.
C. The annual disclosure statement shall describe the disposition of any realproperty acquired by the provider from residents of the facility.
D. In addition to filing the annual disclosure statement, the provider shallamend its currently filed disclosure statement at any other time if, in theopinion of the provider, an amendment is necessary to prevent the disclosurestatement from containing any material misstatement of fact or failing tostate any material fact required to be stated therein. Any such amendment oramended disclosure statement shall be filed with the Commission before it isdelivered to any resident or prospective resident and is subject to all therequirements of this chapter, and the provider shall notify each resident ofthe existence of such amendment or amended disclosure statement.
E. If the Commission determines that the disclosure statement does not complywith the provisions of this chapter, it shall have the right to take actionpursuant to § 38.2-4915.
A. Within four months following the end of the provider's fiscal year, eachprovider shall file with the Commission and make available by written noticeto each resident at no cost an annual disclosure statement which shallcontain the information required for the initial disclosure statement setforth in § 38.2-4902.
B. The annual disclosure statement shall also be accompanied by a narrativedescribing any material differences between:
1. The prior fiscal year's pro forma income statement, and
2. The actual results of operations during that fiscal year.
C. The annual disclosure statement shall describe the disposition of any realproperty acquired by the provider from residents of the facility.
D. In addition to filing the annual disclosure statement, the provider shallamend its currently filed disclosure statement at any other time if, in theopinion of the provider, an amendment is necessary to prevent the disclosurestatement from containing any material misstatement of fact or failing tostate any material fact required to be stated therein. Any such amendment oramended disclosure statement shall be filed with the Commission before it isdelivered to any resident or prospective resident and is subject to all therequirements of this chapter, and the provider shall notify each resident ofthe existence of such amendment or amended disclosure statement.
E. If the Commission determines that the disclosure statement does not complywith the provisions of this chapter, it shall have the right to take actionpursuant to § 38.2-4915.
