|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 150
|
|
|
|
|
|
2002 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20T. 20S.
(A) (1) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, CONTINGENT
AND UNLIQUIDATED CLAIMS MAY NOT SHARE IN A DISTRIBUTION OF THE ASSETS OF
A CONTINUING CARE PROVIDER THAT HAS BEEN ADJUDICATED TO BE AN IMPAIRED
CONTINUING CARE PROVIDER BY AN ORDER ISSUED UNDER THIS SUBTITLE.
(2) IF PROPERLY PRESENTED, A CONTINGENT AND UNLIQUIDATED
CLAIM SHALL BE CONSIDERED AND MAY BE ALLOWED TO SHARE IF:
(I) THE CLAIM BECOMES ABSOLUTE AGAINST THE CONTINUING
CARE PROVIDER ON OR BEFORE THE LAST DAY FOR FILING CLAIMS AGAINST THE
ASSETS OF THE CONTINUING CARE PROVIDER; OR
(II) THERE IS A SURPLUS AND THE LIQUIDATION IS
SUBSEQUENTLY CONDUCTED ON THE BASIS THAT THE CONTINUING CARE
PROVIDER IS SOLVENT.
(B) (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION, A
CLAIM OF A PERSON THAT HAS A SECURED CLAIM MAY NOT BE ALLOWED AT A SUM
GREATER THAN THE DIFFERENCE BETWEEN:
(I) THE VALUE OF THE CLAIM WITHOUT SECURITY; AND
(II) THE VALUE OF THE SECURITY ITSELF ON:
1. THE DATE OF ISSUANCE OF THE LIQUIDATION ORDER; OR
2. ANOTHER DATE SET BY THE COURT FOR DETERMINING
RIGHTS AND LIABILITIES AS PROVIDED IN SUBSECTION (C) OF THIS SECTION.
(2) IF THE CLAIMANT SURRENDERS THE SECURITY TO THE SECRETARY,
THE CLAIM SHALL BE ALLOWED IN THE FULL AMOUNT FOR WHICH IT IS VALUED.
(C) SUBJECT TO THE PROVISIONS OF THIS SUBTITLE ON THE RIGHTS OF
CLAIMANTS HOLDING CONTINGENT CLAIMS, AND UNLESS OTHERWISE DIRECTED BY
THE COURT, THE RIGHTS AND LIABILITIES OF A CONTINUING CARE PROVIDER AND
CREDITORS, STOCKHOLDERS, MEMBERS, SUBSCRIBERS, AND OTHER PERSONS
INTERESTED IN THE ESTATE OF THE CONTINUING CARE PROVIDER ARE FIXED ON
THE DATE ON WHICH THE ORDER THAT DIRECTS THE LIQUIDATION OF THE
CONTINUING CARE PROVIDER IS FILED IN THE OFFICE OF THE CLERK OF THE COURT
THAT ISSUED THE ORDER
20U. 20T.
(A) EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, IN ALL CASES
OF MUTUAL DEBTS AND CREDITS BETWEEN A CONTINUING CARE PROVIDER AND
ANOTHER PERSON IN CONNECTION WITH A DELINQUENCY PROCEEDING, THE DEBTS
AND CREDITS SHALL BE OFFSET AND THE BALANCE ONLY SHALL BE ALLOWED OR
PAID.
(B) AN OFFSET MAY NOT BE ALLOWED IN FAVOR OF ANOTHER PERSON IF:
|
|
|
|
|
|
|
|
|
|
- 1524 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
