§ 1119. Limited exemption for continuing care retirement communities.
(a) An organization complying with the provisions of article forty-six
of the public health law may operate without being licensed under this
chapter and without being subject to any provisions of this chapter,
except to the extent that such organization must comply with the
provisions of this chapter by virtue of such article, and such
organization must comply with rules and regulations of the
superintendent relating to:

(1) financial feasibility of the continuing care retirement community,

(2) actuarial principles established relating to such communities,

(3) approval of continuing care retirement contracts and the rates and
rating system, if any, for such contracts.

(b) The superintendent may promulgate regulations in effectuating the
purposes and the provisions of this chapter and article forty-six of the
public health law, which may include requirements applicable to the
contracts between a continuing care retirement community and its
residents.

(c) Such organization shall be subject to the provisions of article
seventy-four of this chapter. Prior to commencing action under article
seventy-four, the superintendent shall consult with the continuing care
retirement community council established pursuant to section forty-six
hundred two of the public health law.