§ 10-11251 – Definitions
10-11251. Definitions In this chapter, unless the context otherwise requires: 1. " Assets" means all real, personal, tangible and intangible property and rights in property, including cash, buildings, equipment, investments and contracts with other entities. 2. " Community benefit activity" means any activity furthering community benefit purposes including any health care activity that includes education, […]
§ 10-11252 – Scope; included transactions; excluded transactions
10-11252. Scope; included transactions; excluded transactions A. Except as provided in subsections B and C of this section, this chapter applies to any nonprofit health care entity that intends to sell, transfer, lease, exchange, option, convey, convert, give, merge or otherwise dispose of all or substantially all of its assets to or with another nonprofit […]
§ 10-11253 – Public hearing; notice; requirements; summary report
10-11253. Public hearing; notice; requirements; summary report A. No later than ninety days before the anticipated closing of the intended transaction, any nonprofit health care entity that intends to engage in any of the transactions described in section 10-11252, subsection A shall give written notice to the director of the department of health services and […]
§ 10-11254 – Applicability
10-11254. Applicability A. Nothing in this chapter: 1. Affects the provisions of chapters 24 through 35 and chapters 36 through 40 of this title regarding the corporation commission’s acceptance or denial of new, restated or amended articles of incorporation. 2. Affects the operation of state or federal antitrust laws or the attorney general’s enforcement of […]
§ 10-11301 – Prohibited distributions
10-11301. Prohibited distributions Except as authorized by section 10-11302, a corporation shall not make any distributions.
§ 10-11023 – Bylaw increasing quorum or voting requirement for members
10-11023. Bylaw increasing quorum or voting requirement for members A. If authorized by the articles of incorporation, members may adopt or amend a bylaw that fixes a greater quorum or voting requirement for members, or of classes of members, than is required by chapters 24 through 40 of this title. The adoption or amendment of […]
§ 10-11302 – Authorized distributions
10-11302. Authorized distributions A. A corporation may purchase its memberships if after the purchase is completed both: 1. The corporation would be able to pay its debts as the debts become due in the usual course of its activities. 2. The corporation’s total assets would at least equal the sum of its total liabilities. B. […]
§ 10-11024 – Bylaw increasing quorum or voting requirement for directors
10-11024. Bylaw increasing quorum or voting requirement for directors A. A bylaw that fixes a greater quorum or voting requirement for the board of directors may be amended or repealed as follows: 1. If originally adopted by the members, only by the members. 2. If originally adopted by the board of directors, either by the […]
§ 10-11401 – Dissolution by incorporators or directors and third persons
10-11401. Dissolution by incorporators or directors and third persons A. A majority of the incorporators or initial directors of a corporation that has not commenced activities or the board of directors of a corporation that has no members or has no members entitled to vote on dissolution or that has not commenced activities may dissolve […]
§ 10-11030 – Approval by third persons
10-11030. Approval by third persons The articles of incorporation may require a specified person or persons other than the board of directors to approve in writing any amendment to the articles of incorporation or bylaws and, unless the articles of incorporation or bylaws otherwise provide, that article provision may only be amended with the approval […]