Illinois Statutes

§ 3-516 — Accounting by receiver; Department's lien

Illinois·Topic REGULATION·Ch. 210 HEALTH FACILITIES AND REGULATION·Act 210 ILCS 46/ MC/DD Act.·Art. Part 5 - Monitors and Receivership
(a)Within 30 days after termination, the receiver shall give the court a complete accounting of all property of which the receiver has taken possession, of all funds collected, and of the expenses of the receivership.
(b)If the operating funds collected by the receiver under Sections 3-508 and 3-509 exceed the reasonable expenses of the receivership, the court shall order payment of the surplus to the owner, after reimbursement of funds drawn from the contingency fund under Section 3-511. If the operating funds are insufficient to cover the reasonable expenses of the receivership, the owner shall be liable for the deficiency. Payment recovered from the owner shall be used to reimburse the contingency fund for amounts drawn by the receiver under Section 3-511.
(c)The Department shall hav

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Legislative History

(Source: P.A. 99-180, eff. 7-29-15.)

Nearby Sections

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