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Ch. 150
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PARRIS N. GLENDENING, Governor
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(II) TEN OR MORE PERSONS RESIDING IN THE STATE WITH CLAIMS
AGAINST THE CONTINUING CARE PROVIDER FILE A PETITION WITH THE SECRETARY
REQUESTING THE APPOINTMENT OF AN ANCILLARY RECEIVER
(B) FOR THE PURPOSE OF LIQUIDATING A CONTINUING CARE PROVIDER
DOMICILED IN A RECIPROCAL STATE, THE DOMICILIARY RECEIVER;
(1) IS VESTED BY OPERATION OF LAW WITH TITLE TO ALL OF THE
PROPERTY, CONTRACTS, AND RIGHTS OF ACTION, AND ALL OF THE BOOKS AND
RECORDS OF THE CONTINUING CARE PROVIDER LOCATED IN THIS STATE;
(2) IMMEDIATELY MAY OBTAIN POSSESSION OF ANY BOOKS AND
RECORDS OF THE CONTINUING CARE PROVIDER FOUND IN THIS STATE;
(3) SUBJECT TO SUBSECTION (C)(1) OF THIS SECTION, MAY RECOVER
OTHER ASSETS OF THE CONTINUING CARE PROVIDER LOCATED IN THIS STATE; AND
(4) MAY SUE IN THIS STATE TO RECOVER ANY ASSETS OF THE
CONTINUING CARE PROVIDER TO WHICH THE DOMICILIARY RECEIVER IS ENTITLED
UNDER THE LAWS OF THIS STATE.
(C) (1) ON APPOINTMENT OF AN ANCILLARY RECEIVER IN THIS STATE, THE
ANCILLARY RECEIVER;
(I) HAS THE SOLE RIGHT TO RECOVER OTHER ASSETS OF THE
CONTINUING CARE PROVIDER SPECIFIED IN SUBSECTION (B)(3) OF THIS SECTION
DURING THE ANCILLARY RECEIVERSHIP PROCEEDING;
(II) SHALL:
1. AS SOON AS PRACTICABLE LIQUIDATE FROM THE
SECURITIES OF THE ANCILLARY RECEIVER THOSE SPECIAL DEPOSIT CLAIMS AND
SECURED CLAIMS THAT ARE PROVED AND ALLOWED IN AN ANCILLARY PROCEEDING
IN THIS STATE; AND
2. PAY THE NECESSARY EXPENSES OF THE ANCILLARY
PROCEEDING; AND
(III) SHALL TRANSFER PROMPTLY ALL REMAINING ASSETS TO THE
DOMICILIARY RECEIVER
(2) SUBJECT TO PARAGRAPH (1) OF THIS SUBSECTION, THE ANCILLARY
RECEIVER AND DEPUTIES OF THE ANCILLARY RECEIVER HAVE THE SAME POWERS
AND ARE SUBJECT TO THE SAME DUTIES CONCERNING ADMINISTRATION OF THE
ASSETS OF THE CONTINUING CARE PROVIDER AS A RECEIVER OF A CONTINUING
CARE PROVIDER DOMICILED IN THIS STATE.
20-O.
(A) DURING PENDENCY OF A DELINQUENCY PROCEEDING FOR A CONTINUING
CARE PROVIDER IN THIS STATE OR A RECIPROCAL STATE, AN ATTACHMENT,
GARNISHMENT, EXECUTION, OR SIMILAR ACTION OR PROCEEDING MAY NOT BE
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- 1517 -
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