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PARRIS N. GLENDENING, Governor Ch. 155
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(3) whether any conflicts of interest were disclosed, including conflicts of
interest of board members, executives, and experts retained by the transferor,
transferee, or any other parties to the acquisition;
(4) whether the transferor will receive fair value for its public or
charitable assets;
(5) whether public or charitable assets are placed at unreasonable risk if
the acquisition is financed in part by the transferor;
(6) whether the acquisition has the likelihood of creating a significant
adverse effect on the availability or accessibility of health care services in the affected
community;
(7) whether the acquisition includes sufficient safeguards to ensure that
the affected community will have continued access to affordable health care; and
(8) whether any management contract under the acquisition is for fair
value.
(F) THE PUBLIC OR CHARITABLE ASSETS DISTRIBUTED TO A PUBLIC OR
NONPROFIT CHARITABLE ENTITY OR TRUST IN ACCORDANCE WITH SUBSECTION
(B)(2) OF THIS SECTION SHALL BE IN THE FORM OF CASH.
(F) (G) THE APPROPRIATE REGULATING ENTITY SHALL DETERMINE:
(1) IF ALL OR PART OF THE PUBLIC OR CHARITABLE ASSETS
DISTRIBUTED TO A PUBLIC OR NONPROFIT CHARITABLE ENTITY OR TRUST IN
ACCORDANCE WITH SUBSECTION (B)(2) OF THIS SECTION MUST BE IN THE FORM OF
CASH; AND
(2) WHETHER A PAYMENT BY A NONPROFIT HEALTH ENTITY, REQUIRED
UNDER AN AGREEMENT OR CONTRACT FOR THE ACQUISITION OF A NONPROFIT
HEALTH ENTITY IF THE AGREEMENT OR CONTRACT IS BROKEN BY THE NONPROFIT
HEALTH ENTITY, IS IN THE PUBLIC INTEREST.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2002.
Approved April 25, 2002.
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CHAPTER 155
(Senate Bill 487)
AN ACT concerning
Acquisition of Nonprofit Health Entity - Conditions for Approval
FOR the purpose of altering a certain standard for making a certain determination;
eliminating a certain provision deeming a certain application approved under
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