RSA 420-D:10 Entrance Fee Escrow Account.

I. An escrow account for entrance fees shall be established and approved by the commissioner before a certificate of authority under this chapter shall be issued. Entrance fees paid by prospective residents before occupancy of a facility living unit or by prospective residents under a contract issued pursuant to RSA 420-D:3-a, and which total over $1,000 shall be placed in this account. All entrance fees subject to this section shall be placed in the account on the first working day after receipt. Interest on such fees shall be paid at the current market rate as established by the commissioner to the prospective resident if the resident is not allowed by the provider, for any reason, to enter the facility, provided however if the entrance fee is paid pursuant to a contract under RSA