Richmond Shreve (Opinion)

North Carolina has enacted new regulations governing CCRCs and related managed senior housing. This Blog Post provides materials to help readers understand how the regulations affect their communities.

House Bill 357, significantly strengthens state oversight of Continuing Care Retirement Communities by expanding licensing requirements, enhancing financial disclosure obligations, and reinforcing protections for current and prospective residents. The law empowers the Department of Insurance to intervene early when communities show signs of financial instability, requires more frequent and detailed reporting—including quarterly financial statements—and mandates clearer, timelier refunds of entrance fees. It also regulates deposits for facilities not yet built, standardizes disclosure statements, and ensures residents are better informed about the risks and obligations associated with their contracts. These reforms are designed to promote transparency, accountability, and consumer confidence across the senior living sector.

Note: The links below take you to the NaCCRA Documents Archive. Once there, scroll down to "State Legislation" and choose the North Carolina Folder. Then scroll back to the top of the page to see the list of documents. Clicking the download arrow will allow you to view or download the documents.

• The law: H-357 As Enacted
• AI Summary by ChatGPT: H357 Plain Language Summary
• Media Analysis and comment: Media Analysis and Comment

Residents are invited to comment here and on the NaCCRA forums.