Section 6-664-A - Implementation of financial recovery plan(a) Chief recovery officer charged with implementing plan.-- Following the secretary's approval of the financial recovery plan under section 663-A(d), the chief recovery officer shall implement the plan and: (1) Give written notice of the plan's adoption to creditors, the employee organization and other parties who will be directly affected by the plan's implementation. The notice shall outline the provisions of the plan and specify how that party's claim or interest will be treated. (2) Oversee the implementation and completion of the plan by directly controlling the implementation process, including directing employees and elected or appointed officials of the school district to take actions that, in the judgment of the chief recovery officer, are necessary to implement the plan and to refrain from taking actions that, in the judgment of the chief recovery officer, would impede the implementation of the plan. (3) Provide the department and the secretary with monthly reports that contain the following information: (i) Evidence of payments to creditors as required under the plan.(ii) Evidence that any loan given to the school district from the department under Subdivision (vi) is being repaid. (iii) Monthly revenue and expenditure sheets which indicate the balances of each in relation to the other.(iv) Evidence that the recommendations stated in the plan are being accomplished by the dates specified in the plan where applicable. (4) Suggest amendments or revisions to the plan that may be necessary to implement or complete the plan or adapt the plan to circumstances that arise or become apparent after approval of the plan by the secretary. In determining whether to suggest amendments or revisions to the plan, the chief recovery officer shall consult with the board of school directors and the superintendent of the school district. Amendments or revisions to the plan shall be submitted to the board of school directors and the secretary for approval as provided in section 663-A. (5) Upon achievement of the goals and objectives stated in the plan, recommend to the secretary that financial recovery status be terminated under section 624-A. (b) Duty to comply.-- (1) The board of school directors shall comply with all directives of the chief recovery officer under subsection (a) (2) and may take no action that is: (i) inconsistent with the plan; (ii) not specifically identified in the plan; or (iii) not directed by the chief recovery officer as necessary to implement the plan. (2) If a board of school directors fails to comply with paragraph (1), the school district shall be subject to the appointment of a receiver under Subdivision (vi). Added by P.L. 1142 2012 No. 141, § 10, eff. 7/12/2012.