Vermont § 7206 - Appointment of receiver; hearing and order

§ 7206. Appointment of receiver; hearing and order

• (a) After the hearing on the merits, the court may appoint a receiver from the list provided
  by the licensing agency if it finds that one or more of the grounds set forth in section
  7202 of this chapter is satisfied, and that the person is qualified to perform the
  duties of a receiver as provided for in section 7205 of this chapter. The court’s
  determination of whether one or more of the grounds set forth in section 7202 of this
  chapter is satisfied shall be based on the condition of the facility at the time the
  complaint requesting the appointment of a receiver was filed. (b) The court shall set a reasonable compensation for the receiver and may require the
  receiver to furnish a bond with surety as the court may require. Any expenditure,
  including the compensation of the receiver, shall be paid from the revenues of the
  facility. (c) The court may order limitations and conditions on the authority of the receiver provided
  for in section 7207 of this chapter. The order shall divest the owner and licensee
  of possession and control of the facility during the period of receivership under
  the conditions specified by the court. (d) An order issued pursuant to this section shall confirm on the receiver all rights
  and powers described in section 7207 of this chapter and shall provide the receiver
  with the authority to conduct any act authorized under this section, including managing
  the accounts, banking transactions, and payment of debts. (e) An order appointing a receiver under this chapter has the effect of a license for
  the duration of the receivership and of suspending the license of the licensee. The
  receiver shall be responsible to the court for the conduct of the facility during
  the receivership, and a violation of rules and regulations governing the conduct of
  the facility, if not promptly corrected, shall be reported by the licensing agency
  to the court. The order shall not remove the obligation of the receiver to comply
  with all relevant State rules and federal regulations applicable to the facility. (f) The court shall order regular accountings by the receiver at least semiannually. (Added 2009, No. 36, § 2; amended 2019, No. 118 (Adj. Sess.), § 3, eff. June 23, 2020; 2021, No. 20, § 358.)