Section 900.10 - Authorization to begin construction

900.10 Authorization to begin construction. (a) Upon issuance of a certificate of authority, the operator may begin construction of the model units and a sales office.

(b) Construction of the community may begin upon written authorization of the commissioner. Such authorization shall be granted upon:

(1) proof of execution of contracts for at least fifty percent of all living units or approved phase of living units accompanied by a deposit of at least ten percent of the entrance fee. Such proof shall consist of a listing certified by the operator which includes the names, addresses and phone numbers of prospective residents and amounts of the deposits paid;

(2) obtaining all applicable permits and approvals; and

(3) satisfaction of all certificate of authority contingencies.
 

Effective Date: 
Wednesday, September 18, 1991
Doc Status: 
Complete