RS 40:2115.13

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RS 40:2115.13

§2115.13. Application to acquire a hospital

A.(1) Every person shall give the attorney general at least thirty days notice of an impending acquisition, during which time the attorney general may take any necessary and appropriate action consistent with the provisions of this Subpart.

(2)The notice shall briefly describe the impending acquisition, including any change in ownership of tangible or intangible assets.

B.(1) No person shall acquire a not-for-profit hospital without the seller first having applied for and received the approval of the attorney general pursuant to this Subpart.

(2)(a) An application shall be submitted to the attorney general on forms provided by the attorney general and shall include the following:

(i)The name of the seller.

(ii)The name of the purchaser or other parties to the acquisition.

(iii)The terms of the proposed agreement.

(iv)The sale price.

(v)A summary of the acquisition agreement.

(vi)A financial and economic analysis and report from an independent expert or consultant of the effect of the acquisition under the criteria set forth in R.S. 40:2115.17.

(b)A copy of the application shall be submitted to the attorney general. The application shall be considered a public record.

Acts 1997, No. 1371, §1, eff. Jan. 1, 1998.