A. The court may terminate a receivership:
1. If the time period specified in the order appointing the receiver elapses and is not extended;
2. If the court determines that the receivership is no longer necessary because the conditions which gave rise to the receivership no longer exist or the State Department of Health grants the facility a new license; or
3. If all of the residents in the facility have been transferred or discharged.
B. 1. Within thirty (30) days after termination, the receiver shall give the court a complete accounting of all property of which the receiver has taken possession, of all funds collected, and of the expenses of the receivership.
2. If the operating funds exceed the reasonable expenses of the receivership, the court shall order payment of the surplus to the owner. If the operating funds are insufficient to cover the reasonable expenses of the receivership, the owner shall be liable for the deficiency.
3. The Department shall have a lien for any payment made to the receiver upon any beneficial interest, direct or indirect, of any owner in the following property:
a.the building in which the facility is located,
b.any fixtures, equipment or goods used in the operation of the facility,
c.the land on which the facility is located, or
d.the proceeds from any conveyance of property described in subparagraph a, b or c of this paragraph, made by the owner within one (1) year prior to the filing of the petition for receivership.
4. The receiver shall, within sixty (60) days after termination of the receivership, file a notice of any lien created under this section.
Added by Laws 2002, c. 230, § 13, eff. Nov. 1, 2002.
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