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Ch. 150
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2002 LAWS OF MARYLAND
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1. TO SELL OR DISPOSE OF THE REMAINING BUSINESS OR
ASSETS OF THE CONTINUING CARE PROVIDER; OR
2. TO OTHERWISE BRING TO A PROMPT CONCLUSION THE
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP; AND
(IV) COPIES OF ANY ACTUARIAL OR OTHER EVALUATIONS OF THE
BUSINESS AND ASSETS UNDER THE CONTROL OF THE APPOINTED RECEIVER
(3) THE REPORT SHALL BE AUDITED UNLESS FOR GOOD CAUSE THE
COURT WAIVES THE AUDIT.
(D) SUBJECT TO ANY PROTECTIVE ORDER THAT THE COURT CONSIDERS
APPROPRIATE, INFORMATION FILED UNDER SEAL SHALL BE PROVIDED TO THE
SECRETARY.
(E) THE APPOINTED RECEIVER SHALL GIVE THE SECRETARY FULL ACCESS TO
ALL DOCUMENTS AND RECORDS RELATED TO THE CONSERVATORSHIP,
REHABILITATION, OR RECEIVERSHIP THAT ARE IN THE POSSESSION OF THE
APPOINTED RECEIVER
(F) THE SECRETARY MAY BE A PARTY TO A CONSERVATORSHIP,
REHABILITATION, OR RECEIVERSHIP FOR WHICH THERE IS AN APPOINTED
RECEIVER
(G) (1) SUBJECT TO APPROVAL OF THE COURT, THE SECRETARY MAY
NEGOTIATE FOR SALE OF ALL OR PART OF THE ASSETS OR BUSINESS OF THE
CONTINUING CARE PROVIDER PLACED IN CONSERVATORSHIP, REHABILITATION, OR
RECEIVERSHIP.
(2) THE APPOINTED RECEIVER:
(I) SHALL COOPERATE FULLY IN ANY SALES NEGOTIATION UNDER
PARAGRAPH (1) OF THIS SUBSECTION; AND
(II) MAY OBJECT TO THE TERMS OF A SALE OF THE ASSETS OR
BUSINESS OF THE CONTINUING CARE PROVIDER THAT RESULTS FROM THE
NEGOTIATION.
(3) AFTER NOTICE AND AN OPPORTUNITY TO BE HEARD, THE COURT
MAY LIMIT THE EFFORTS OF THE SECRETARY TO UNDERTAKE OR CONTINUE
NEGOTIATIONS FOR THE SALE OF THE ASSETS OR BUSINESS OF THE CONTINUING
CARE PROVIDER IF THE NEGOTIATIONS WOULD IMPAIR THE ABILITY OF THE
APPOINTED RECEIVER TO ENGAGE IN SIMILAR NEGOTIATIONS OR DISCHARGE
OTHER RESPONSIBILITIES.
(H) (1) IF THE SECRETARY DETERMINES THAT AN APPOINTED RECEIVER IS
NOT ADEQUATELY DISCHARGING THE DUTIES AND RESPONSIBILITIES OF THE
POSITION, THE SECRETARY MAY FILE WITH THE COURT AN APPLICATION THAT
SEEKS TO DISCHARGE THE APPOINTED RECEIVER AND TO APPOINT THE SECRETARY
AS CONSERVATOR, REHABILITATOR, OR RECEIVER OR TO APPOINT ANOTHER
RECEIVER
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- 1514 -
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