Continuing care retirement community board of directors; resident representation. (HB117)

Introduced By

Del. Bob Purkey (R-Virginia Beach)

Description

Continuing care retirement community board of directors; resident representation. Requires that no less than 20 percent of the members of the board of directors of a corporation providing continuing care at a facility shall be residents of the facility elected to serve as resident representatives by the residents of the facility. This bill provides that resident representatives shall have the same voting rights as other members of the board, and that a corporation may comply with the requirement by increasing the number of directors on the board or by replacing sitting directors with resident representatives as their terms expire or vacancies arise.   View Full Text »

Outcome

1 vote