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Ch. 150
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2002 LAWS OF MARYLAND
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COMMENCED OR MAINTAINED IN A COURT OF THIS STATE AGAINST THE
CONTINUING CARE PROVIDER OR ITS ASSETS.
(B) A LIEN OBTAINED OR AN ACTION OR PROCEEDING PROHIBITED BY
SUBSECTION (A) OF THIS SECTION IS VOID AS AGAINST ANY RIGHTS ARISING IN THE
DELINQUENCY PROCEEDING, IF THE LIEN WAS OBTAINED OR THE ACTION OR
PROCEEDING COMMENCED WITHIN 4 MONTHS BEFORE OR AT ANY TIME AFTER
COMMENCEMENT OF A DELINQUENCY PROCEEDING.
20P. 20-O.
(A) A TRANSFER OF OR LIEN ON THE PROPERTY OF A CONTINUING CARE
PROVIDER IS VOIDABLE IF THE TRANSFER OR LIEN IS:
(1) MADE OR CREATED WITHIN 4 MONTHS BEFORE THE ISSUANCE OF A
SHOW CAUSE ORDER UNDER THIS SUBTITLE;
(2) MADE OR CREATED WITH THE INTENT TO GIVE A CREDITOR A
PREFERENCE OR TO ENABLE THE CREDITOR TO OBTAIN A GREATER PERCENTAGE OF
THE DEBT THAN ANOTHER CREDITOR OF THE SAME CLASS; AND
(3) ACCEPTED BY THE CREDITOR HAVING REASONABLE CAUSE TO
BELIEVE THAT THE PREFERENCE WILL OCCUR
(B) EACH DIRECTOR, OFFICER, EMPLOYEE, STOCKHOLDER, MEMBER
SUBSCRIBER, AND ANY OTHER PERSON ACTING ON BEHALF OF A CONTINUING CARE
PROVIDER THAT IS CONCERNED IN A VOIDABLE TRANSFER UNDER SUBSECTION (A)
OF THIS SECTION AND EACH PERSON THAT, AS A RESULT OF THE VOIDABLE
TRANSFER, RECEIVES ANY PROPERTY OF THE CONTINUING CARE PROVIDER OR
BENEFITS FROM THE VOIDABLE TRANSFER:
(1) IS PERSONALLY LIABLE; AND
(2) SHALL ACCOUNT TO THE SECRETARY.
(C) THE SECRETARY AS RECEIVER IN A DELINQUENCY PROCEEDING MAY:
(1) AVOID A TRANSFER OF OR LIEN ON THE PROPERTY OF A
CONTINUING CARE PROVIDER THAT A CREDITOR, STOCKHOLDER, SUBSCRIBER, OR
MEMBER OF THE CONTINUING CARE PROVIDER MIGHT HAVE AVOIDED; AND
(2) RECOVER THE TRANSFERRED PROPERTY OR ITS VALUE FROM THE
PERSON THAT RECEIVED IT UNLESS THAT PERSON WAS A BONA FIDE HOLDER FOR
VALUE BEFORE THE DATE OF ISSUANCE OF A SHOW CAUSE ORDER UNDER THIS
SUBTITLE.
20Q. 20P.
(A) (1) THE SECRETARY SHALL DEPOSIT MONEYS COLLECTED IN A
DELINQUENCY PROCEEDING IN A STATE OR NATIONAL BANK, SAVINGS BANK, OR
TRUST COMPANY
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- 1518 -
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