48-1501. LEGISLATIVE FINDINGS AND INTENT. (1) Nonprofit hospitals hold assets in charitable trust, and are dedicated to the specific charitable purposes set forth in the articles of incorporation of the nonprofit corporations or governing papers of the nonprofit entities operating such hospitals. Nonprofit hospitals have a substantial and beneficial effect on the provision of health […]
48-1502. DEFINITIONS. As used in this act: (1) "Hospital" means a place devoted primarily to the maintenance and operation of facilities for the diagnosis, treatment or care for not less than twenty-four (24) hours in any week of two (2) or more nonrelated individuals suffering from illness, disease, injury, deformity, or requiring care because of […]
48-1503. NOTICE TO THE ATTORNEY GENERAL. (1) Any nonprofit hospital shall be required to provide written notice to the attorney general prior to entering into any nonprofit hospital conversion transaction. (2) In addition to identifying the parties to the nonprofit hospital conversion transaction and the general terms of the transaction, the notice to the attorney […]
48-1504. ATTORNEY GENERAL REVIEW AND WRITTEN OPINION — TIME PERIODS — EXTENSION — DISTRICT COURT REVIEW. (1) No nonprofit hospital conversion transaction may close or be consummated until the time periods, as provided in this section, have expired. (2) Within ninety (90) days of receipt of a written notice as required by section 48-1503, Idaho […]
48-1505. PUBLIC MEETINGS — NOTICE OF TIME AND PLACE. (1) Prior to issuing any written opinion pursuant to section 48-1504, Idaho Code, the attorney general may conduct one (1) or more public meetings, one (1) of which, if held, shall be held in the county where the nonprofit hospital’s assets to be transferred are located. […]
48-1506. NONPROFIT HOSPITAL CONVERSION TRANSACTION REVIEW ELEMENTS. In reviewing a proposed nonprofit hospital conversion transaction, the attorney general (and the district court as necessary and applicable), shall consider: (1) Whether the nonprofit hospital will receive fair market value for its charitable trust assets; (2) Whether the fair market value of the nonprofit hospital’s assets to […]
48-1507. RULES — AUTHORITY TO ADOPT — INFORMATION REQUESTS — CONSEQUENCES OF REFUSAL TO PROVIDE INFORMATION. (1) The attorney general may adopt such rules, pursuant to chapter 52, title 67, Idaho Code, as the attorney general deems appropriate or necessary to implement this chapter. (2) The attorney general may request that the nonprofit hospital giving […]
48-1508. CONTRACTS WITH AGENCIES AND CONSULTANTS — REIMBURSEMENT FOR COSTS AND EXPENSES OF REVIEW — FAILURE TO PAY. (1) Within the time periods designated in section 48-1504, Idaho Code, the attorney general may do any of the following to assist in the review of the proposed nonprofit hospital conversion transaction described in section 48-1503, Idaho […]
48-1509. PUBLIC RECORDS. All documents submitted to the attorney general by any person, including nonprofit hospital entities giving notice under section 48-1503, Idaho Code, in connection with the attorney general’s review of the proposed nonprofit hospital conversion transaction pursuant to this chapter shall be deemed records contained in court files of judicial proceedings, as provided […]
48-1510. PENALTIES — REMEDIES. (1) In his discretion, the attorney general may apply to the district court for an order voiding any nonprofit hospital conversion transaction entered into in violation of the notice and disclosure requirements of section 48-1503(1), Idaho Code. Each member of the governing boards and the chief executive officers of the parties […]
48-1511. PRIVATE BENEFIT. No person who is an officer, director, board member or other fiduciary of a nonprofit hospital shall receive anything of value, beyond ordinary compensation, that relates to a nonprofit hospital conversion transaction described in this act and is of such a character as to have the appearance of an improper influence on […]
48-1512. APPLICATION OF ACT. This act applies to all acquisitions, the consummation of which occurs after the effective date of this act. History: [48-1512, added 2000, ch. 314, sec. 1, p. 1059.]
