Arizona Laws 48-5543. Lease provisions
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A lease of the hospital, a freestanding urgent care center, a medical clinic or a nursing care institution and their equipment shall:
Terms Used In Arizona Laws 48-5543
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Medical clinic: means a facility that provides for physical evaluation, diagnosis and treatment of patients and that does not keep patients overnight as bed patients or treat patients under general anesthesia. See Arizona Laws 48-5501
1. Extend for a term of at least one year but not more than twenty years to be determined by the board of directors.
2. Be executed to a nonprofit corporation organized under title 10, chapters 24 through 40 for the purpose of conducting a hospital, a freestanding urgent care center, a medical clinic or a nursing care institution, combined hospital, nursing care institution and ambulance service or a combined freestanding urgent care center and ambulance service.
3. Provide for rent on terms and in an amount that are determined to be reasonable by the board of directors.