The receivership shall terminate when the conditions that led to its establishment, and any other conditions that constitute grounds for establishment of a receivership, have ceased to exist. If the health facility is insolvent or otherwise financially distressed, the receivership shall terminate upon filing of federal bankruptcy proceedings, unless the district court orders otherwise.
§ 24A-2-7 NMSA 1978
Termination of receivership
Known as the Health Facility Receivership Act
The act spans §§ 24–24 (8 sections).
1978 Comp., § 24-1E-6, enacted by Laws 1996, ch. 35, § 9; recompiled as § 24A-2-7 by Laws 2024, ch. 39, § 132.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.