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Ch. 154 2002 LAWS OF MARYLAND
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(1999 Replacement Volume and 2001 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article—Insurance
14-107.1.
(A) IN THIS SECTION, "ACQUISITION" HAS THE MEANING STATED IN §
6.5-101(D) OF THE STATE GOVERNMENT ARTICLE.
(B) A NONPROFIT HEALTH SERVICE PLAN MAY NOT BE SUBJECT TO
ACQUISITION.
Article—State Government
6.5-101.
(a) In this title the following words have the meanings indicated.
(b) "Acquisition" means:
(1) a sale, lease, transfer, merger, or joint venture that results in the
disposal of the assets of a nonprofit health entity to a for profit corporation or entity
or to a mutual benefit corporation or entity when a substantial or significant portion
of the assets of the nonprofit health entity are involved or will be involved in the
agreement or transaction;
(2) a transfer of ownership, control, responsibility, or governance of a
substantial or significant portion of the assets, operations, or business of the
nonprofit health entity to any for profit corporation or entity or to any mutual benefit
corporation or entity;
(3) a public offering of stock; or
(4) a conversion to a for profit entity.
(c) "Administration" means the Maryland Insurance Administration.
(d) "Department" means the Department of Health and Mental Hygiene.
(e) "Health maintenance organization" has the meaning stated in § 19-701 of
the Health—General Article.
(f) "Hospital" has the meaning stated in § 19-301 of the Health - General
Article.
(g) "Nonprofit health entity" moans:
(1) a nonprofit hospital; OR
(2) [a nonprofit health service plan; or
(3)] a nonprofit health maintenance organization.
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- 1560 -
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