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Code · Utah · Title 31A — Insurance Code · Chapter 44

31A-44-505. Termination of receivership.

112 words·~1 min read·/ut/title-31a/chapter-44/31a-44-505

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Effective 5/3/2023
31A-44-505. Termination of receivership.
(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:
(a)the objectives of the receivership orders have been accomplished; and
(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:
(a)a full report and accounting of the conduct of the facility's affairs during the rehabilitation; and
(b)a report on the facility's financial condition.
Amended by Chapter 271 , 2023 General Session
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