§ 31-7-409. Prospective Operation of Article
Any transaction completed before October 31, 1997, or any transaction that is subject to a pending definitive agreement as of October 31, 1997, and which is either conditioned only upon receipt of regulatory approval, or is subject to a pending judicial proceeding as of April 1, 1997, is not subject to the requirements of this […]
§ 31-7-410. Authority of Attorney General Unaffected
No provision of this article shall derogate from the common law or statutory authority of the Attorney General. History. Code 1981, § 31-7-410 , enacted by Ga. L. 1997, p. 1091, § 1.
§ 31-7-411. Attorney General’s Power Under Article Same as Under Code Section 45-15-17
In connection with the Attorney General’s responsibilities under this article and in connection with the public hearing required by this article, the Attorney General shall have the same power to investigate and issue subpoenas as the Attorney General has with respect to investigations authorized under Code Section 45-15-17. History. Code 1981, § 31-7-411 , enacted […]
§ 31-7-412. Disposition or Acquisition Made in Violation of Requirements of Article Null and Void; Violators Subject to Fine; Attorney General to Instigate Proceedings to Impose Fine Within One Year
Any disposition or acquisition of assets made in violation of the notice, disclosure, and certification requirements of this article shall be null and void, and each nonprofit entity and acquiring entity engaging in such disposition or acquisition shall be subject to a fine of up to $50,000.00, the amount of which shall be determined by […]
§ 31-7-400. Definitions
As used in this article the term: “Acquiring entity” means an individual, business corporation, general partnership, limited partnership, limited liability company, limited liability partnership, joint venture, nonprofit corporation, hospital authority, or any other for profit or not for profit entity which is a purchaser or lessee of an acquisition. “Acquisition” means a purchase or lease […]
§ 31-7-401. Notice to Attorney General of Acquisition
No acquiring entity shall engage in an acquisition without first notifying the Attorney General pursuant to this article. No nonprofit corporation which owns, controls, or operates, directly or indirectly, a hospital having a permit under this chapter shall engage in a disposition without first notifying the Attorney General pursuant to this article. The parties to […]
§ 31-7-402. Content and Form of Notice to Attorney General; Retention of Experts; Payment of Costs and Expenses
Notice to the Attorney General required by this article shall include the name of the seller or lessor; the name of the acquiring entity and other parties to the acquisition; the county in which the main campus of the hospital is located; the terms of the proposed agreement and any related agreements including leases, management […]
§ 31-7-403. Certification of Interest in Acquiring Entity; Certification of Financial Interest in Business Associated With Party to Disposition; Statement of Fair Dealing; Opposing Board Members Exempt
Except as provided in subsection (c) of this Code section, notice to the Attorney General required by this article shall also include a separate certification from each member of the governing board and the chief executive officer of the nonprofit corporation which is a party to the proposed disposition, and from each member of the […]
§ 31-7-404. Publication of Notice
Within ten working days after receipt of notice under this article, the Attorney General shall publish notice of the proposed transaction in a newspaper of general circulation in the county where the main campus of the hospital is located and shall notify in writing the governing authority of such county. The published notice required by […]
§ 31-7-405. Public Hearing; Expert or Consultant Required to Testify; Testimony; Representative of Acquiring Entity to Testify
Within 60 days after receipt of the notice under this article, the Attorney General shall conduct a public hearing regarding the proposed transaction in the county in which the main campus of the hospital is located. At such hearing, the Attorney General shall provide an opportunity for those persons in favor of the transaction, those […]