New Hampshire § 151-H-8 - Section 151-H:8 Termination of Receivership.

§ 151-H-8. Section 151-H:8 Termination of Receivership.

I. After a hearing on the merits, the court may terminate a receivership under the following conditions: (a) The department grants a license to operate the facility to the licensee divested of possession and control by the receiver; (b) There is a transfer of ownership or management of the facility to a transferee approved for licensure by the department; or (c) All residents of the facility have been provided appropriate alternative placements. II. Notwithstanding the provisions of paragraph I of this section, a receivership shall not be terminated in favor of the former licensee, unless such person assumes all obligations incurred by the receiver and provides collateral or other assurance of payment. III. If the receivership has not been terminated within 90 days of the appointment of the receiver, the court shall, after a hearing on the merits, order either the orderly transfer of the residents to appropriate alternative placements; or the facility shall be transferred, under reasonable terms approved by the court, to a new owner or operator approved for licensure by the department. The receivership period may be extended by the court following the 90-day review only with the agreement of all of the parties involved or, upon a showing by clear and convincing evidence, that such action is necessary to protect the health and safety of the residents. IV. Within 30 days after termination of the receivership, or such time as the court may allow, the receiver shall submit to the court a final accounting of all property of which the receiver has taken possession, of all funds collected under this section and all expenses of the receivership. The court shall fix the fees and expenses of the receiver and issue orders for the disposition of funds held by the receiver following a hearing, at which time the following parties may appear and be heard: the licensee at the time the receivership was established, the current licensee, the owner or owners, the administrator, the department, and any mortgagee or lienholder whose interests could be impacted by the court's order. Following the court's determination of the receiver's fees and expenses, and the disposition of funds held by the receiver, control of the facility shall be relinquished by the receiver to the current licensee or owner subject to the rights of any third parties.