(1) Nonprofit hospitals hold assets in charitable trust, and are dedicated to the specific charitable purposes set forth in the articles of incorporation of the nonprofit corporations or governing papers of the nonprofit entities operating such hospitals. Nonprofit hospitals have a substantial and beneficial effect on the provision of health care to the people of Idaho, providing as part of their charitable mission free or low-cost health care.
Terms Used In Idaho Code 48-1501
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(2) The attorney general is entrusted by law to bring actions on behalf of the public in the event of a breach of the charitable trust, pursuant to section 67-1401, Idaho Code.
(3) This act shall be cited as the "Nonprofit Hospital Sale or Conversion Act."