1200                                   LAWS OF MARYLAND                              Ch. 558

entity or the annual amount of the contract price, consideration or other
advances by such hospitals or related institutions on account of any transaction
is $10,000 or greater; to require that the reports and statements filed are to be
under oath and subject to the penalties of perjury; to require the reports and
statements to be maintained by the Health Services Cost Review Commission
and; to provide penalties; [[and to relate generally to the disclosure of business
transactions between the Trustees of non-profit hospitals and the business
association with whom the Trustee is affiliated]].

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF

MARYLAND, That new § 568Y is hereby added to Article 43 of the Annotated
Code of Maryland (1972 Supplement), title "Health", subtitle "Health Services
Cost Review Commission", to follow immediately after § 568X thereof, and to
read as follows:

568Y.

(A) ANY PERSON WHO IS AN EMPLOYEE, PARTNER, DIRECTOR
OR OFFICER OF A PARTNERSHIP, [[ASSOCIATION]] FIRM,
CORPORATION. OR OTHER BUSINESS [[ASSOCIATION]] ENTITY, OR
WHO IS A [[HOLDER]] BENEFICIAL OWNER OF 3% OR MORE OF
THE [[SHARES OF]] CAPITAL ACCOUNT OR STOCK OF A
[[CORPORATION]] BUSINESS ENTITY, AND WHO ALSO [[ACTS IN
THE CAPACITY OF]] IS A TRUSTEE [[FOR]] , DIRECTOR OR
OFFICER OF ANY NON-PROFIT HOSPITAL OR NON-PROFIT
RELATED INSTITUTION IN THE STATE SHALL FILE AN ANNUAL
REPORT OR STATEMENT WITH THE HEALTH SERVICES COST
REVIEW COMMISSION, ACCORDING TO FORMS AND PROCEDURES
TO BE PRESCRIBED BY THE COMMISSION, DISCLOSING IN DETAIL
ALL BUSINESS TRANSACTIONS CONDUCTED BETWEEN THE
HOSPITAL OR NON-PROFIT RELATED INSTITUTION FOR WHICH
THE PERSON [[ACTS AS]] IS A TRUSTEE , DIRECTOR OR OFFICER,
AND THE PARTNERSHIP, [[ASSOCIATION]] FIRM, CORPORATION
OR OTHER BUSINESS [[ASSOCIATION]] ENTITY OF WHICH THAT
TRUSTEE IS AN EMPLOYEE, PARTNER, OFFICER OR HOLDER OF 3%
OR MORE OF THE SHARES OF STOCK AS THE CASE MAY BE, IF
[[THE NET WORTH OF THESE ANNUAL BUSINESS]] ANNUAL
ACTUAL OR IMPUTED VALUE OR WORTH OF ANY TRANSACTION
TO THE BUSINESS ENTITY OR THE. ANNUAL AMOUNT OF THE
CONTRACT PRICE, CONSIDERATION OR OTHER ADVANCES BY THE
HOSPITAL OR RELATED INSTITUTION ON ACCOUNT OF THESE
TRANSACTIONS IS $10,000 OR GREATER.

(B)   EVERY REPORT OR STATEMENT REQUIRED BY THIS SECTION
SHALL BE UNDER OATH OR AFFIRMATION AND SUBJECT TO
PENALTIES OF PERJURY.

(C)   THE REPORTS AND STATEMENTS SHALL BE MAINTAINED BY
THE HEALTH SERVICES COST REVIEW COMMISSION IN THE SAME
MANNER AS STATEMENTS OR REPORTS FILED PURSUANT TO
SECTION 568P OF THIS ARTICLE.

(D)     WILLFUL FAILURE TO FILE ANY REPORT OR STATEMENT
REQUIRED BY THIS SECTION IS A MISDEMEANOR, PUNISHABLE
UPON CONVICTION BY A FINE NOT EXCEEDING $500.00.

(E) THE COMMISSION SHALL REQUIRE THE FILING OF ALL
REPORTS AND STATEMENTS BY SPECIFIED DATES, AND MAY