§ 16-28-8-6 — Bond

(a) Before beginning duties as a receiver, the
receiver must execute a bond, with one (1) or more sureties approved
by the court, to the effect that the receiver will:
(1) faithfully discharge the duties of the receiver while operating
the health facility; and
(2) obey the orders of the court.
(b) The health facility shall pay the cost of the bond required of the
receiver.
(c) Upon:
(1) the court's approval of the receiver's final report that the
conditions that presented a major threat to the patients in the
health facility have been corrected or that the health facility has
closed; and
(2) the receiver's compliance with the court's order made on the
final report;
the receiver and the surety on the receiver's bond are fully discharged
for all matters related to the final report.

Legislative History

As added by P.L.210-1999, SEC.2.