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

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 38.2-4901.1 as follows:

§ 38.2-4901.1. Board of directors; resident representation.

Not less than 20 percent of the members of the board of directors of the corporation engaged in the business of providing continuing care at a facility in the Commonwealth shall be residents of the continuing care facility who have been elected to serve as resident representatives by the residents of the continuing care facility. Resident representatives shall have the same voting rights as other members of the board. A corporate provider shall satisfy the requirements of this section within a reasonable period, as determined by the Commission, either by increasing the number of directors on the board, or by providing for the replacement of sitting directors with resident representatives as their terms expire or as vacancies on the board arise, or both, as the corporation may elect.