(a) (1) The owner or operating entity or receiver of a nursing home or community program may petition the court to terminate the receivership.
(2) The court shall terminate the receivership, if the court finds:
(i) The grounds for appointment of the receiver under Part V of this subtitle no longer exist; or
(ii) The nursing home or community program is ready to be closed because all residents have been moved.
(b) A receivership ends automatically 1 year after the court appoints the receiver, unless the court:
(1) Terminates the receivership sooner; or
(2) On petition of the Secretary, extends the receivership for an additional 1-year period because the court finds that the grounds for appointment of a receiver under Part V of this subtitle still exist.
(c) The sale of a nursing home or site for a community program or any of its assets does not terminate a receivership of the nursing home or community program.
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