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Martin O'Malley, Governor
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Ch.3
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agreements is substituted for the former reference to continuing care
agreements "to which it is a party" for brevity.
Defined terms: "Continuing care agreement" § 10-401
"Department" § 10-101
"Provider" § 10-401
10-438. SALE OR TRANSFER OF ASSETS — APPROVAL BY DEPARTMENT.
(A) DETERMINATION BY DEPARTMENT.
(1) AFTER REVIEWING THE INFORMATION REQUIRED BY § 10-437 OF
THIS SUBTITLE, THE DEPARTMENT SHALL DETERMINE WHETHER THE SALE,
TRANSFER OR OTHER DISPOSITION SATISFIES THE STANDARD FOR APPROVAL SET
FORTH IN SUBSECTION (B) OF THIS SECTION.
(2) THE DEPARTMENT SHALL MAKE ITS DETERMINATION AND NOTIFY
THE PROVIDER IN WRITING WITHIN 25 DAYS AFTER THE DATE OF THE NOTICE
REQUIRED BY § 10-437(A)(2) OF THIS SUBTITLE, UNLESS EXTENDED BY THE
DEPARTMENT FOR GOOD CAUSE.
(3) IF THE DEPARTMENT DOES NOT APPROVE THE PROPOSED SALE,
TRANSFER OR OTHER DISPOSITION, THE DEPARTMENT SHALL INCLUDE THE
REASONS FOR ITS DETERMINATION IN THE WRITTEN NOTICE TO THE PROVIDER
(B) STANDARD FOR APPROVAL.
THE DEPARTMENT SHALL APPROVE THE SALE, TRANSFER OR OTHER
DISPOSITION OF ASSETS UNLESS IT DETERMINES THAT THE SALE, TRANSFER OR
DISPOSITION IS LIKELY TO HAVE AN UNREASONABLY ADVERSE EFFECT ON:
(1) THE FINANCIAL STABILITY OF THE PROVIDER; OR
(2) THE CAPACITY OF THE PROVIDER TO PERFORM ITS OBLIGATIONS
UNDER ITS CONTINUING CARE AGREEMENTS.
(C) REGULATIONS.
(1) BY REGULATION, THE DEPARTMENT SHALL ADOPT REASONABLE
OBJECTIVE FINANCIAL STANDARDS FOR A PROPOSED SALE, TRANSFER OR OTHER
DISPOSITION OF ASSETS.
(2) IF THE DEPARTMENT DETERMINES THAT THE PROVIDER HAS MET
THE OBJECTIVE FINANCIAL STANDARDS, THE DEPARTMENT SHALL APPROVE THE
PROPOSED SALE, TRANSFER OR OTHER DISPOSITION OF ASSETS.
(3) IF THE DEPARTMENT DETERMINES THAT THE PROVIDER HAS NOT
MET THE OBJECTIVE FINANCIAL STANDARDS, THE DEPARTMENT MAY APPROVE A
PROPOSED SALE, TRANSFER OR OTHER DISPOSITION OF ASSETS IF IT SATISFIES THE
REQUIREMENTS SET FORTH IN SUBSECTION (B) OF THIS SECTION.
(D) APPEAL OF DEPARTMENT'S DETERMINATION.
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- 469 -
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