As used in this chapter, unless the context requires a different meaning: “Disposition of assets” means any action undertaken by a nonprofit entity to dispose of control of all or substantially all of its assets pursuant to an agreement of sale, transfer, lease, exchange, option, joint venture, or partnership, or to convert to a for-profit […]
Prior to disposition of assets, any nonprofit entity shall provide to the Attorney General written notice, on a form provided by the Attorney General, of its intent to dispose of such assets, including the terms of the proposal. The notice shall be given at least 60 days in advance of the effective date of such […]
This chapter shall apply to any disposition of assets proposed to take effect on or after July 1, 1997. 1997, c. 615, § 55-533; 2019, c. 712.
