Okla. Stat. tit. 10, § 10-1430.40: Termination of receivership
Where this section sits in the code
- OK Code
- Title 10
A. The court may terminate a receivership:
1. If the time period specified in the order appointing the
receiver elapses and is not extended;
2. If the court determines that the receivership is no longer
necessary because the conditions which gave rise to the receivership
no longer exist; or the Department of Human Services issues the
provider or licensee a new license, whether the structure of the
group home, the right to operate the group home, or the land on
which it is located is under the same or different ownership; or
3. If all of the residents in the group home have been
transferred or discharged.
B. 1. Within thirty (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.
2. If the operating funds exceed the reasonable expenses of the
receivership, the court shall order payment of the surplus to the
provider or licensee, after reimbursement of funds drawn from the
contingency fund provided for in Section 1430.37 of this title. If
the operating funds are insufficient to cover the reasonable
expenses of the receivership, the provider or licensee shall be
liable for the deficiency. Payment recovered from the provider or
licensee shall be used to reimburse the contingency fund for amounts
drawn by the receiver under Section 1430.37 of this title.
3. The Department shall have a lien for any payment made under
Section 1430.37 of this title upon any beneficial interest, direct
or indirect, of any owner in the following property:
a. the building in which the group home is located,
b. any fixtures, equipment or goods used in the operation
of the group home,
c. the land on which the group home is located, or
d. the proceeds from any conveyance of property described
in subparagraphs a, b or c above, made by the provider
or licensee within one (1) year prior to the filing of
the petition for receivership.
4. The receiver shall, within sixty (60) days after termination
of the receivership, file a notice of any lien created under this
section. If the lien is on real property, the notice shall be filed
with the county clerk. If the lien is on personal property, the
notice shall be filed with the Secretary of State. The notice shall
specify the name of the person against whom the lien is claimed, the
name of the receiver, the dates of the petition for receivership and
the termination of receivership, a description of the property
involved and the amount claimed. No lien shall exist under this act
against any person, on any property, or for any amount not specified
in the notice filed under this paragraph.
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