144.556 RIGHT OF FIRST REFUSAL; SALE OF HOSPITAL OR HOSPITAL CAMPUS.
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/mn/chapter-144/144-556A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
144.556 RIGHT OF FIRST REFUSAL; SALE OF HOSPITAL OR HOSPITAL CAMPUS.
(a)The controlling persons of a hospital licensed under sections 144.50 to 144.56 or a hospital campus must not sell or convey the hospital or hospital campus, offer to sell or convey the hospital or hospital campus to a person other than a local unit of government listed in this paragraph, or voluntarily cease operations of the hospital or hospital campus unless the controlling persons have first made a good faith offer to sell or convey the hospital or hospital campus to the home rule charter or statutory city, county, town, or hospital district in which the hospital or hospital campus is located.
(b)The offer to sell or convey the hospital or hospital campus to a local unit of government under paragraph
(a)must be at a price that does not exceed the current fair market value of the hospital or hospital campus. A party to whom an offer is made under paragraph
(a)must accept or decline the offer within 60 days of receipt. If the party to whom the offer is made fails to respond within 60 days of receipt, the offer is deemed declined.