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Code · Maryland · Economic Development

§ 10-351

403 words·~2 min read·/md/economic-development/10-351

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§10–351.
(a)Notwithstanding any other provision of this subtitle, the amount of a public obligation that may be paid under the Program shall be reduced by the sum of:
(1)any excess of the total fair market value of all property transferred by a closed or delicensed hospital to an affiliate or a person with an interest in the hospital after it is closed or delicensed over the total fair market value of the property transferred and services provided to the hospital by the affiliate or person; and
(2)the total fair market value of the property retained by the hospital or affiliate after the closure or delicensure minus the property that is applied to paying closure costs approved by the Health Services Cost Review Commission.
(1)By any method it considers appropriate, the Authority may determine the fair market value of any property or services, including by:
(i)the appraisal of an independent professional appraiser; or
(ii)the report of an independent consultant.
(2)The closed or delicensed hospital shall pay the cost of the appraiser or consultant.
(1)The Authority may act under this subsection if the Authority determines that the action is:
(i)necessary to protect the interests of holders of public obligations; or
(ii)consistent with the public purpose of encouraging and assisting the hospital to close or delicense.
(2)The Authority may proceed against:
(i)a closed or delicensed hospital; or
(ii)a guaranty or collateral securing the payment of a public obligation of a closed or delicensed hospital if the guaranty or collateral was provided by an entity associated with the hospital.
(d)In making the determination required under subsection
(c)of this section, the Authority shall consider:
(1)the circumstances under which the guaranty or other collateral was provided; and
(2)the recommendations of the Health Services Cost Review Commission and the Maryland Health Care Commission.
(1)Any money that the Authority or its assignee realizes from enforcing a claim against a closed or delicensed hospital, or a hospital with a plan under § 10-348 of this subtitle, shall be applied to offset the fee that the Health Services Cost Review Commission is required to assess under § 10-350 of this subtitle.
(2)The costs and expenses of enforcing the claim, including the costs for maintaining the property before disposition, shall be deducted from the money described in paragraph
(1)of this subsection.
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