Hospitals operated by nonprofit corporation
- • transfer of assets
- • approval by Attorney General
(1) Any public benefit or religious corporation that operates a hospital must provide written notice to, and obtain the written approval of, the Attorney General before closing any transaction to do either of the following:
(a) Sell, transfer, lease, exchange, option, convey, merge or otherwise dispose of all or a significant portion of its hospital assets to a noncharitable entity or to an unrelated charitable entity.
(b) Transfer control, responsibility or governance of a significant portion of the hospital assets or hospital operations of the public benefit or religious corporation to a noncharitable entity.
(2) This section does not apply to a public benefit or religious corporation if any of the following apply:
(a) The transaction is in the usual and regular course of the activities of the public benefit or religious corporation.
(b) The public benefit or religious corporation has furnished the Attorney General with a detailed written statement describing the proposed transaction and requesting a written waiver of the requirements imposed by this section, and the Attorney General:
(A) Has given the public benefit or religious corporation a written waiver of the requirements imposed by this section as to the proposed transaction; or
(B) Has not made a written determination with regard to the request within 45 days after receiving the request.
(c) The Attorney General, by rule, has excepted this kind of transaction.
(3) The notice and approval required by ORS 65.800 (Definitions for ORS 65.803 to 65.815) to 65.815 (Rules) are in addition to any other notice or approval required by this chapter or other applicable law.
(5) Any person may make a written request to the Attorney General that the person be given notice of requests for approval received by the Attorney General under this section. The Attorney General shall maintain a mailing list of persons who have requested notification under this subsection and shall promptly mail a copy of any request for approval received under this section to the persons on the list. In addition, the Attorney General shall promptly mail a copy of any request for waiver received under subsection (2) of this section to the persons on the list upon receiving the request for waiver. The Attorney General may not grant a waiver under subsection (2) of this section until 14 days after the mailing required by this subsection. [1997 c.291 §3]
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