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Martin O'Malley, Governor
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Ch.3
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Defined terms: "Creditor" § 10-472
"Delinquency proceeding" § 10-472
"Department" § 10-101
"Person" §§ 1-101, 10-401
"Provider" § 10-401
"Receiver" § 10-472
"Secretary" § 10-101
"Subscriber" § 10-401
10-480. ORDERS TO REHABILITATE, LIQUIDATE, OR CONSERVE PROVIDERS.
(A) ORDER TO REHABILITATE.
(1) AN ORDER TO REHABILITATE A PROVIDER SHALL:
(I) APPOINT THE SECRETARY AS REHABILITATOR;
(II) DIRECT THE SECRETARY:
1. TO TAKE POSSESSION OF THE PROPERTY OF THE
PROVIDER AND CONDUCT THE BUSINESS OF THE PROVIDER UNDER THE GENERAL
SUPERVISION OF THE COURT; AND
2. TO TAKE ACTION THE COURT DIRECTS TO REMOVE THE
CAUSES AND CONDITIONS THAT HAVE MADE REHABILITATION NECESSARY;
(III) VEST TITLE TO ALL PROPERTY OF THE PROVIDER IN THE
REHABILITATOR; AND
(IV) REQUIRE THE REHABILITATOR TO MAKE ACCOUNTINGS TO
THE COURT THAT:
1. ARE AT INTERVALS AS THE COURT SPECIFIES IN ITS
ORDER BUT NOT LESS FREQUENTLY THAN TWO TIMES EACH YEAR; AND
2. INCLUDE THE OPINION OF THE REHABILITATOR ABOUT
THE LIKELIHOOD OF SUCCESS OF THE REHABILITATION.
(2) ISSUANCE OF AN ORDER OF REHABILITATION:
(I) DOES NOT CONSTITUTE AN ANTICIPATORY BREACH OF ANY
CONTRACT OF THE PROVIDER; AND
(II) IS NOT GROUNDS FOR RETROACTIVE REVOCATION OR
RETROACTIVE CANCELLATION OF A CONTRACT OF THE PROVIDER UNLESS THE
REHABILITATOR REVOKES OR CANCELS THE CONTRACT.
(B) ORDER TO TERMINATE REHABILITATION PROCEEDING.
(1) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, THE SECRETARY,
OR AN INTERESTED PERSON ON DUE NOTICE TO THE SECRETARY, MAY APPLY TO THE
COURT AT ANY TIME FOR AN ORDER THAT:
(I) TERMINATES A REHABILITATION PROCEEDING; AND
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- 511 -
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