Devonshire at PGA National, LLC v. State ex rel. Department of Financial Services

This case involves the statutory authority of the State of Florida, through its regulatory agents, to intervene and act as receiver over an insolvent continuing care retirement community (CCRC) for the benefit of its residents. We reverse the order below, holding the State is without this authority under the circumstances of this case.

I

Since the advent of CCRCs in the 1980s, the State of Florida has taken an active regulatory approach to ensure that residents of these facilities — who expend substantial monies for having health care, nursing, and assisted living services under one roof — are…