The bill aims to recodify RSA 420-D, enhancing regulations for continuing care communities in New Hampshire to better protect residents. Key provisions include new requirements for certificates of authority, annual reporting, and life care contracts, along with revised escrow requirements for entrance fees. It establishes a comprehensive bill of rights for residents, mandates that providers notify the insurance department of any intended sale or transfer of the community, and requires a financial plan to demonstrate solvency. The bill also introduces new definitions for continuing care contracts and retirement communities, ensuring that providers comply with statutory requirements and maintain transparency regarding their financial status.

Additionally, the bill emphasizes consumer protection by mandating detailed disclosure statements for prospective residents, including clear information about services, fees, and the provider's financial responsibilities. It introduces a 15-day cancellation period for contracts, allowing residents to receive a full refund of their entrance fee, and outlines the conditions under which contracts can be terminated. The legislation also establishes penalties for violations, including civil penalties and criminal charges for intentional violations, while ensuring that all records and assets of providers remain within New Hampshire. Overall, the bill seeks to create a more robust regulatory framework that prioritizes the rights and well-being of residents in continuing care retirement communities.