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Martin O'Malley, Governor
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Ch.3
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10-430. RESERVED.
10-431. RESERVED.
PART IV. FACILITIES AND ASSETS.
10-432. SALE OR TRANSFER OF FACILITY OWNERSHIP — IN GENERAL.
(A) SCOPE OF PROVISIONS GOVERNING SALE OR TRANSFER OF FACILITY
OWNERSHIP.
(1) THIS SECTION AND §§ 10-433 THROUGH 10-435 OF THIS SUBTITLE DO
NOT APPLY TO A TRANSFER OF OWNERSHIP OF A FACILITY, OR A TRANSFER OF
OWNERSHIP OR CONTROL OF A PERSON THAT OWNS OR CONTROLS A FACILITY, IF:
(I) THE TRANSFER IS PART OF A BUSINESS REORGANIZATION; AND
(II) THE SAME PERSON OR PERSONS 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.
(2) THE PROVIDER SHALL NOTIFY THE DEPARTMENT AND THE
FACILITY'S SUBSCRIBERS 30 DAYS BEFORE ANY REORGANIZATION DESCRIBED IN
PARAGRAPH (1) OF THIS SUBSECTION.
(B) RESTRICTIONS ON SALE OR TRANSFER OF FACILITY.
UNLESS THE DEPARTMENT APPROVES THE SALE OR TRANSFER IN
ACCORDANCE WITH §§ 10-433 THROUGH 10-435 OF THIS SUBTITLE, A PROVIDER THAT
HOLDS A PRELIMINARY, INITIAL, OR RENEWAL CERTIFICATE OF REGISTRATION OR A
PERSON WITH AN OWNERSHIP INTEREST IN OR A RIGHT TO CONTROL THE PROVIDER
THROUGH GOVERNING BODY APPOINTMENTS OR CONTRACTUAL OR SIMILAR
ARRANGEMENTS, MAY NOT SELL OR OTHERWISE TRANSFER DIRECTLY OR
INDIRECTLY:
(1) MORE THAN 50% OF THE PROVIDER'S OWNERSHIP OF A FACILITY; OR
(2) MORE THAN 50% OF THE OWNERSHIP OF OR RIGHT TO CONTROL A
PERSON THAT OWNS OR CONTROLS A FACILITY.
(C) AGGREGATION.
ANY SERIES OF SALES OR OTHER TRANSFERS DESCRIBED IN SUBSECTION (B)
OF THIS SECTION THAT OCCUR IN A 12-MONTH PERIOD SHALL BE AGGREGATED FOR
PURPOSES OF THIS SECTION AND §§ 10-433 THROUGH 10-435 OF THIS SUBTITLE.
REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 70B, § 11D(a).
In subsection (a)(1)(ii) of this section, the reference to the "same person or
persons" is substituted for the former reference to "the same party or
parties" for internal consistency.
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- 459 -
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