The department shall issue a permit to accept deposits when it has done all of the following:
(a) Determined that the application is adequate.
(b) Determined that the proposed continuing care retirement community financial and marketing studies are acceptable.
(c) Reviewed and approved the deposit agreements.
(d) Reviewed and approved the deposit escrow account agreement.
(Amended by Stats. 2000, Ch. 820, Sec. 31. Effective January 1, 2001.)