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Ch. 150
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2002 LAWS OF MARYLAND
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(1) APPOINT THE SECRETARY AS RECEIVER; AND
(2) ORDER THE SECRETARY PROMPTLY TO TAKE POSSESSION OF THE
ASSETS OF THE CONTINUING CARE PROVIDER AND TO ADMINISTER THE ASSETS
UNDER THE ORDERS OF THE COURT.
(B) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION SUBSECTION (A)(2) OF
THIS SECTION, BEGINNING ON THE DATE OF ISSUANCE OF AN ORDER THAT DIRECTS
THE SECRETARY TO REHABILITATE OR LIQUIDATE A CONTINUING CARE PROVIDER,
THE SECRETARY AS RECEIVER IS VESTED BY OPERATION OF LAW WITH TITLE TO
AND MAY TAKE POSSESSION OF ALL OF THE PROPERTY, CONTRACTS, RIGHTS OF
ACTION, BOOKS, AND RECORDS OF THE CONTINUING CARE PROVIDER, WHEREVER
LOCATED.
(C) THE FILING OF THE ORDER THAT DIRECTS POSSESSION TO BE TAKEN, OR
A CERTIFIED COPY OF THE ORDER, IN AN OFFICE WHERE INSTRUMENTS AFFECTING
TITLE TO PROPERTY ARE REQUIRED TO BE FILED PROVIDES THE SAME NOTICE AS
WOULD BE PROVIDED BY A DEED, BILL OF SALE, OR OTHER EVIDENCE OF TITLE
THAT IS SO FILED.
(D) (1) THE SECRETARY AS RECEIVER SHALL ADMINISTER PROPERLY ALL
ASSETS THAT COME INTO THE POSSESSION OR CONTROL OF THE SECRETARY.
(2) IF CONSIDERED DESIRABLE TO PROTECT THE ASSETS, THE COURT
AT ANY TIME MAY REQUIRE A BOND FROM THE SECRETARY OR DEPUTY SECRETARY.
(3) ON TAKING POSSESSION OF THE ASSETS OF A CONTINUING CARE
PROVIDER AND SUBJECT TO THE DIRECTION OF THE COURT, THE SECRETARY
IMMEDIATELY SHALL:
(I) CONDUCT THE BUSINESS OF THE DOMESTIC CONTINUING
CARE PROVIDER; OR
(II) TAKE ACTION AUTHORIZED BY THIS SUBTITLE TO
REHABILITATE, LIQUIDATE, OR CONSERVE THE AFFAIRS OR ASSETS OF THE
DOMESTIC CONTINUING CARE PROVIDER
20N.
(A) (1) WHENEVER UNDER THIS SUBTITLE AN ANCILLARY RECEIVER IS TO
BE APPOINTED IN A DELINQUENCY PROCEEDING FOR A CONTINUING CARE
PROVIDER NOT DOMICILED IN THE STATE, THE COURT SHALL APPOINT THE
SECRETARY AS ANCILLARY RECEIVER
(2) THE SECRETARY SHALL FILE A PETITION REQUESTING
APPOINTMENT AS ANCILLARY RECEIVER UNDER § 20C(E) OF THIS SUBTITLE IF;
(I) THE SECRETARY FINDS THAT THERE ARE SUFFICIENT ASSETS
OF THE CONTINUING CARE PROVIDER LOCATED IN THE STATE TO JUSTIFY THE
APPOINTMENT OF AN ANCILLARY RECEIVER; OR
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- 1516 -
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