Utah Code 31A-44-505. Termination of receivership
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(1) A court may terminate a receivership of a provider‘s facility and order the return of the facility and the facility’s assets to the provider if the court determines:
Terms Used In Utah Code 31A-44-505
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Facility: means a place in which a person provides continuing care pursuant to a continuing care contract. See Utah Code 31A-44-102
- Order: means an order of the commissioner. See Utah Code 31A-1-301
- Provider: means :(9)(a)(i) the owner of a facility;(9)(a)(ii) a person, other than a resident, that claims a possessory interest in a facility; or(9)(a)(iii) a person who enters into a continuing care contract with a resident or potential resident. See Utah Code 31A-44-102(1)(a) the objectives of the receivership orders have been accomplished; and(1)(b) termination of the receivership will not jeopardize the interests of the facility’s residents, creditors, owners, or the public.
(2) A court may enter an order under this section after the court enters:
(2)(a) a full report and accounting of the conduct of the facility’s affairs during the rehabilitation; and
(2)(b) a report on the facility’s financial condition.