(a) The General Assembly recognizes that continuing care communities have become an important and necessary alternative for the long-term residential, social, and health maintenance needs for many of the state's elderly citizens.
(b) The General Assembly recognizes the need for full disclosure of important facts to an appropriate regulatory agency of the state. Accordingly, the General Assembly has determined that continuing care facilities should be regulated in accordance with the provisions of this subchapter.
(c)
(1) The provisions of this subchapter apply equally to for-profit and not-for-profit provider organizations.
(2) The provisions of this subchapter shall be the minimum requirements to be imposed upon any person, association, or organization offering or providing continuing care as set forth in this subchapter.
(3) This subchapter shall not apply to facilities duly authorized and licensed by the State of Arkansas as long-term care facilities providing nursing care.