(1) A provider shall deliver a disclosure statement to an individual before the earlier of the date:
(a) the provider executes a continuing care contract with the individual; or
(b) the individual transfers an entrance fee or a nonrefundable deposit to the provider.
(2) The most recently filed disclosure statement:
(a) is current for the purpose of this chapter; and
(b) is the only disclosure statement that satisfies the requirements described in Subsection (1).