[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR901.230]



[Page 260]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 901_PUBLIC HOUSING MANAGEMENT ASSESSMENT PROGRAM--Table of Contents

 

Sec.  901.230  Receivership.



    (a) Upon a determination that a substantial default has occurred and 

without regard to the availability of alternate remedies, the Department 

may petition the court for the appointment of a receiver to conduct the 

affairs of the PHA in a manner consistent with statutory, regulatory, 

and contractual obligations of the PHA and in accordance with such 

additional terms and conditions that the court may provide. The court 

shall have authority to grant appropriate temporary or preliminary 

relief pending final disposition of any petition by HUD.

    (b) The appointment of a receiver pursuant to this section may be 

terminated upon the petition to the court by the PHA, the receiver, or 

the Department, and upon a finding by the court that the circumstances 

or conditions that constituted substantial default by the PHA no longer 

exist and that the operations of the PHA will be conducted in accordance 

with applicable statutes and regulations, and contractual covenants and 

conditions to which the PHA and its public housing programs are subject.