(1) No nonprofit hospital conversion transaction may close or be consummated until the time periods, as provided in this section, have expired.

Terms Used In Idaho Code 48-1504

  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
(2)  Within ninety (90) days of receipt of a written notice as required by section 48-1503, Idaho Code, the attorney general shall review the proposed nonprofit hospital conversion transaction and notify the nonprofit hospital in writing of his opinion. The attorney general shall review the nonprofit hospital conversion transaction to determine if it is in the charitable trust interest. In making his determination, the attorney general shall be guided by the factors set forth in section 48-1506, Idaho Code. Upon application by the attorney general, the district court may extend this period for an additional sixty (60) day period, provided the extension is necessary to obtain necessary and relevant information pursuant to section 48-1507(2) or 48-1508(1), Idaho Code.
(3)  If the attorney general, in his written opinion, opposes the proposed nonprofit hospital conversion transaction, the parties to the transaction may not close or consummate the transaction for fourteen (14) days after the attorney general’s opinion has been issued to allow the attorney general, in his discretion, to file suit seeking to block the transaction.
(4)  If the attorney general files a lawsuit seeking to block the nonprofit hospital conversion transaction, the district court shall review, de novo, the transaction to determine if it is in the charitable trust interest. In making this determination, the district court shall use the factors set forth in section 48-1506, Idaho Code. Neither a positive nor a negative finding with regard to one (1) or more of the factors listed in section 48-1506, Idaho Code, shall necessarily mean that the nonprofit hospital conversion transaction is or is not in the charitable trust interest.