§ 1430.40. Termination of receivership
Oklahoma Statutes AnnotatedTitle 10. Children
10 Okl.St.Ann. § 1430.40
§ 1430.40. Termination of receivership
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
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.
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 act1 against any person, on any property, or for any amount not specified in the notice filed under this paragraph.
Credits
Laws 1987, c. 225, § 40, eff. July 1, 1987; Laws 1996, c. 155, § 39, eff. Nov. 1, 1996. Renumbered from Title 63, § 1-818.40 and amended by Laws 1996, c. 354, §§ 39, 56, eff. Nov. 1, 1996. Laws 2006, c. 137, § 28, eff. Nov. 1, 2006.
Footnotes
Title 10, § 1430.1 et seq.
10 Okl. St. Ann. § 1430.40, OK ST T. 10 § 1430.40
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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