(a) In this title the following words have the meanings indicated. (b) “Acquisition” means: (1) a sale, lease, transfer, merger, or joint venture that results in the disposal of the assets of a nonprofit health entity to a for–profit corporation or entity or to a mutual benefit corporation or entity when a substantial or significant portion of the […]
A person may not engage in an acquisition of a nonprofit health entity unless the transferor and the transferee receive the approval of the appropriate regulating entity.
(a) The Attorney General, the Department, and the Administration shall adopt regulations to carry out this title. (b) The regulations adopted under subsection (a) of this section shall include provisions that establish hearing and appeal procedures.
Nothing in this title shall impair the rights and powers of a court and the Attorney General with respect to any asset devoted to charity or with respect to any charitable trust.
