Ch. 346

1996 LAWS OF MARYLAND

(E) ANY AMENDED DISCLOSURE STATEMENT:

(1)     SHALL BE FILED WITH THE OFFICE AT THE SAME TIME THAT IT IS
DELIVERED TO ANY SUBSCRIBER OR PROSPECTIVE SUBSCRIBER; AND

(2)     IS SUBJECT TO ALL THE REQUIREMENTS OF THIS SUBTITLE.
11D.

(A)     (1) A PROVIDER THAT HOLDS A CERTIFICATE OF REGISTRATION AND A
PERSON WITH AN OWNERSHIP INTEREST IN OR RIGHT TO CONTROL THE PROVIDER
THROUGH GOVERNING BODY APPOINTMENTS OR CONTRACTUAL OR SIMILAR
ARRANGEMENTS MAY NOT SELL OR OTHERWISE TRANSFER, DIRECTLY OR
INDIRECTLY, MORE THAN 50% OF THE PROVIDER'S OWNERSHIP OF A FACILITY OR
MORE THAN 50% OF THE OWNERSHIP OF, OR RIGHT TO CONTROL, A PERSON THAT
OWNS OR CONTROLS A FACILITY, UNLESS THE PROVIDER OR PERSON OBTAINS THE
APPROVAL OF THE OFFICE TO THE SALE OR OTHER TRANSFER IN ACCORDANCE
WITH THIS SECTION.

(2)     ANY SERIES OF SUCH SALES OR OTHER TRANSFERS WITHIN A
12-MONTH PERIOD SHALL BE AGGREGATED FOR PURPOSES OF THIS SECTION.

(3)     THIS SECTION DOES NOT APPLY TO A TRANSFER OF OWNERSHIP OF
A FACILITY, OR TO A TRANSFER OF OWNERSHIP OR CONTROL OF A PERSON OWNING
OR CONTROLLING A FACILITY, IF THE TRANSFER IS PART OF A BUSINESS
REORGANIZATION, AND IF THE SAME PARTY OR PARTIES HOLDING A MAJORITY OF
OWNERSHIP OR RIGHT TO CONTROL BEFORE THE BUSINESS REORGANIZATION
WILL RETAIN, DIRECTLY OR INDIRECTLY, A MAJORITY OF OWNERSHIP OR RIGHT
TO CONTROL AFTER THE BUSINESS REORGANIZATION.

(4)   . NOTWITHSTANDING PARAGRAPH (3) OF THIS SUBSECTION, 30 DAYS
PRIOR NOTICE SHALL BE GIVEN BY THE PROVIDER TO THE OFFICE AND TO THE
FACILITY'S SUBSCRIBERS OF ANY REORGANIZATION MEETING THE STANDARDS OF
PARAGRAPH (3) OF THIS SUBSECTION.

(B)     (1) A PROVIDER SUBJECT TO SUBSECTION (A)(1) OF THIS SECTION
SHALL:

(I)      AT LEAST 90 DAYS BEFORE THE PROPOSED EFFECTIVE DATE
OF THE SALE OR OTHER TRANSFER, FILE WITH THE OFFICE A STATEMENT OF
INTENT TO TRANSFER OWNERSHIP OR CONTROL; AND

(II)     AT LEAST 65 DAYS BEFORE THE PROPOSED EFFECTIVE DATE
OF THE SALE OR OTHER TRANSFER, GIVE WRITTEN NOTICE OF THE PROPOSED SALE
OR OTHER TRANSFER TO THE SUBSCRIBERS OF THE AFFECTED FACILITY AND TO
THE OFFICE

(2) THE WRITTEN NOTICE REQUIRED BY PARAGRAPH (1)(II) OF THIS
SUBSECTION SHALL SPECIFY THE PLACE AND TIME FOR THE MEETING SPECIFIED IN
PARAGRAPH (4) OF THIS SUBSECTION. THE NOTICE TO THE OFFICE SHALL INCLUDE
THE FOLLOWING INFORMATION, WHICH ALSO SHALL BE PROVIDED TO ANY
SUBSCRIBER OF THE AFFECTED FACILITY ON REQUEST:

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