Section 11. Financial Obligations And Conditions

The deputy receiver, unless granted prior approval from the district court, will not obligate the health facility to the purchase of real property, the sale of the health facility’s real property, or the long-term lease of real property. [8.370.7.11 NMAC - N, 7/01/2024] 8.370.7.12 PROVISIONS SOUGHT IN AN ORDER GRANTING PETITION FOR HEALTH FACILITY RECEIVERSHIP: The secretary will seek provisions in the order granting the petition pertaining to: A. Prior approval from the district court for the sale or purchase of real property; B. Periodic accounting to the court and the parties; C. The posting of bond for the deputy receiver and the waiver of any such bonds; D. Allocation of income and assets of the health facility to the receiver to carry out the purposes of the receivership; E. Expansion and restrictions on the statutory authority granted to the receiver or deputy receiver; F. The scope of the receivership estate; and, G. Any other provisions deemed necessary to carry out the duties, authority and responsibilities of the deputy receiver, including provisions that may limit or expand the duties, authority and responsibilities.