Section 710. Termination of receivership.
(a) Time.--Except as provided under subsection (b) or (c), the receivership under this chapter shall expire two years after the appointment of the receiver.
(b) Extension.--The secretary may petition Commonwealth Court for one or more extensions of the receivership. The court shall grant each extension of up to another two years if the secretary establishes by a preponderance of the evidence that further implementation of the recovery plan is necessary to end the fiscal emergency.
(c) Termination of fiscal emergency.--Notwithstanding the date of expiration of receivership under subsection (a) or an extension of receivership under subsection (b), the receivership shall terminate upon the secretary's termination of a fiscal emergency under section 608(a).
(710 amended Oct. 31, 2014, P.L.2983, No.199)