(12/14/07): Seven current or former assisted living residents sue South Dakota assisted living facility for return of deposits
In violation of state law, the owner of a South Dakota assisted living facility admitted in bankruptcy court that he put residents’ deposits in the facility’s general operations account, rather than in a separate trust account. Residents' contracts said "entrance fees" would be refunded if the resident moved out or died. Seven current or former residents, who each paid entrance fees of $50,000 to $85,000, are now suing for return of their deposits. “Elderly Suing Assisted Living Operator,” keloland.tv (Dec. 14, 2007).
http://www.keloland.com/News/NewsDetail6371.cfm?Id=0,64308
