New Jersey Statutes 26:2H-127. Assisted living facility, refund of deposit, certain circumstances
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Terms Used In New Jersey Statutes 26:2H-127
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
1. a. An assisted living facility licensed by the Department of Health pursuant to P.L.1971, c.136 (C. 26:2H-1 et seq.) that requires a new resident, as a condition of admission to the facility, to pay a one-time security deposit, which is in addition to the regular monthly rental and services charges, shall provide that the deposit plus interest earned on the deposit is refundable to the resident or other designated person upon the resident’s vacating the facility if the resident provides the facility with 30 days’ notice that the resident intends to vacate the facility.
b. The facility may deduct an amount not to exceed one percent per annum of the amount of the invested or deposited security deposit for the cost of servicing and processing an account containing a security deposit.
L.2009, c.55, s.1; amended 2012, c.17, s.253.