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Martin O'Malley, Governor
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Ch.3
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(1) ON MOTION OF THE COURT OR THE SECRETARY, THE COURT MAY
ISSUE AN ORDER THAT APPOINTS OR SUBSTITUTES A PERSON OTHER THAN THE
SECRETARY AS CONSERVATOR REHABILITATOR OR RECEIVER:
(I) ON INITIAL APPLICATION BY THE SECRETARY FOR AN ORDER
TO APPOINT THE SECRETARY AS CONSERVATOR REHABILITATOR OR RECEIVER
UNDER THIS SUBTITLE; OR
(II) AT ANY TIME DURING THE COURSE OF A CONSERVATORSHIP,
REHABILITATION, OR RECEIVERSHIP UNDER THIS SUBTITLE.
(2) AN APPOINTED RECEIVER HAS THE SAME POWERS AND DUTIES
THAT THE SECRETARY HAS UNDER THIS SUBTITLE AS CONSERVATOR
REHABILITATOR OR RECEIVER
(C) REPORT REQUIRED.
(1) IN ADDITION TO ANY OTHER REPORT REQUIRED BY THE COURT, THE
COURT SHALL REQUIRE AN APPOINTED RECEIVER AT LEAST QUARTERLY TO FILE
WITH THE SECRETARY AND COURT A REPORT ABOUT:
(I) THE STATUS OF THE CONSERVATORSHIP, REHABILITATION, OR
RECEIVERSHIP; AND
(II) THE ACTIVITIES OF THE APPOINTED RECEIVER SINCE THE
LAST REPORT FILED UNDER THIS PARAGRAPH.
(2) THE REPORT REQUIRED UNDER PARAGRAPH (1) OF THIS
SUBSECTION AT A MINIMUM SHALL INCLUDE:
(I) INFORMATION OF THE CHARACTER REQUIRED BY TITLE 13 OF
THE MARYLAND RULES THAT APPLIES TO RECEIVERS GENERALLY;
(II) ANY OTHER INFORMATION NECESSARY TO PROVIDE A
COMPLETE REPORT ON THE FINANCIAL AFFAIRS AND CONDITION OF THE
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP;
(III) A COMPLETE ACCOUNT OF ALL EFFORTS BY THE APPOINTED
RECEIVER SINCE THE LAST REPORT:
1. TO SELL OR DISPOSE OF THE REMAINING BUSINESS OR
ASSETS OF THE PROVIDER; OR
2. TO OTHERWISE BRING TO A PROMPT CONCLUSION THE
CONSERVATORSHIP, REHABILITATION, OR RECEIVERSHIP; AND
(IV) COPIES OF ANY ACTUARIAL OR OTHER EVALUATIONS OF THE
BUSINESS AND ASSETS UNDER THE CONTROL OF THE APPOINTED RECEIVER.
(3) THE REPORT SHALL BE AUDITED UNLESS FOR GOOD CAUSE THE
COURT WAIVES THE AUDIT.
(D) INFORMATION UNDER SEAL.
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- 513 -
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