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N.C. Gen. Stat. § 58-64A-115

Entrance fee and deposit delivery to the escrow agent

Known as the Continuing Care Retirement Communities Act

The act spans §§ 58-64A-1 to 58-64A-95 (77 sections).

2025-58, s. 2.

(a) The provider shall deliver to the escrow agent any entrance fees or deposits required to be maintained in an escrow account pursuant to this Article within 10 business days after receipt by the provider.

(b) Any deposit delivery to an escrow agent pursuant to this Article shall be accompanied with a copy of the executed nonbinding reservation agreement, binding reservation agreement, or continuing care contract, a copy of the receipt given to the depositor, a summary of all deposits made on that date, and any other materials required by the escrow agent.

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.