RSA 420-D:16 Rehabilitation or Liquidation.

Title: XXXVII - INSURANCE Chapter: 420-D - CONTINUING CARE COMMUNITIES

I. The commissioner may, if it is in the best interest of the residents, petition the appropriate court to appoint a trustee to rehabilitate or liquidate a facility. Such rehabilitation or liquidation shall occur only if the commissioner finds, after proper notice and hearing, any of the following:
(a) That a provider is insolvent or bankrupt or in danger of becoming insolvent or bankrupt.
(b) That a provider has failed to maintain required liquid reserves under RSA 420-D:8.
(c) That any part of the reserve fund escrow amount under RSA 420-D:10 has been or is about to be released in violation of RSA 420-D:10.
(d) That a provider has been or is about to become unable to meet the cash flow or income projections for the period.
(e) That the certificate of

Log in to read the full statute text and search all NH RSAs.

Read Full Statute