1. (a) Before beginning duties as a receiver, the receiver must execute a bond, with one (1) or more sureties approved by the court, to the effect that the receiver will:

   1. (1) faithfully discharge the duties of the receiver while operating the health facility; and
   2. (2) obey the orders of the court.
2. (b) The health facility shall pay the cost of the bond required of the receiver.

3. (c) Upon:

   1. (1) the court's approval of the receiver's final report that the conditions that presented a major threat to the patients in the health facility have been corrected or that the health facility has closed; and

   2. (2) the receiver's compliance with the court's order made on the final report;

      the receiver and the surety on the receiver's bond are fully discharged for all matters related to the final report.

As added by P.L.210-1999, SEC.2.