North Carolina’s New CCRC Law Puts Resident Protections in Writing
A recent Carol Woods summary describes North Carolina’s HB357, which was signed on July 3, 2025, and took effect December 1, 2025. The enacted law replaced the state’s 1989 CCRC statute with a substantially expanded 56-page Continuing Care Retirement Communities Act. This is enacted law, not a proposal.
Among the resident-facing provisions: operating-reserve requirements are tied to occupancy, and a community below 80% occupancy must maintain a reserve equal to 50% of projected operating costs for the next 12 months. Entrance-fee and deposit escrow accounts cannot be used as collateral. Communities must file annual audited and quarterly unaudited financial statements, obtain an actuarial study every three years, and notify regulators and residents within 10 business days if required reserves are not maintained or entrance-fee refunds are more than 30 days late. Residents also have an explicit right to form a Residents Council and attend two semiannual meetings. Which disclosures or meetings would be most useful to residents at your community?
Read the full article here: Carol Woods summary
Primary enacted text: North Carolina Session Law 2025-58