Utah Statutes
§ 31A-44-505 — Termination of receivership.
Utah·Title 31A Insurance Code·Ch. 31A-44 Continuing Care Provider Act·Part 31A-44-5 Rehabilitation and Liquidation
(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:
(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.
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Legislative History
Amended by Chapter 271, 2023 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.