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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 3-515. Termination of receivership. The court may terminate a receivership:
(a) If the time period specified in the order appointing the receiver elapses and is not extended;
(b) 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 grants the facility a new license, whether the structure of the facility, the right to operate the facility, or the land on which it is located is under the same or different ownership; or
(c) If all of the residents in the facility have been transferred or discharged. Before terminating a receivership, the court may order the Department to require any licensee to comply with the recommendations of the receiver made under subsection (k) of Section 3-508. A licensee may petition the court to be relieved of this requirement.
Cite this article: FindLaw.com - Illinois Statutes Chapter 210. Health Facilities and Regulation § 47/3-515. Termination of receivership - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-210-health-facilities-and-regulation/il-st-sect-210-47-3-515/
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