Louisiana Revised Statutes 40:2115.13 – Application to acquire a hospital
Terms Used In Louisiana Revised Statutes 40:2115.13
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Hospital: means any institution, place, building, or agency, public or private, whether for profit or not, with facilities for the diagnosis, treatment, or care of persons who are suffering from illness, injury, infirmity, or deformity or other physical condition for which obstetrical, medical, or surgical services would be available and appropriate and which operates or is affiliated with facilities for the overnight care, observation, or recovery of those persons. See Louisiana Revised Statutes 40:2102
- Person: means the state, and any political subdivision or municipal corporation thereof, an individual, firm, partnership, corporation, company, association or joint stock association, or the legal successor thereof. See Louisiana Revised Statutes 40:2102
A.(1) Every person shall give the attorney general at least thirty days notice of an impending acquisition, during which time the attorney general may take any necessary and appropriate action consistent with the provisions of this Subpart.
(2) The notice shall briefly describe the impending acquisition, including any change in ownership of tangible or intangible assets.
B.(1) No person shall acquire a not-for-profit hospital without the seller first having applied for and received the approval of the attorney general pursuant to this Subpart.
(2)(a) An application shall be submitted to the attorney general on forms provided by the attorney general and shall include the following:
(i) The name of the seller.
(ii) The name of the purchaser or other parties to the acquisition.
(iii) The terms of the proposed agreement.
(iv) The sale price.
(v) A summary of the acquisition agreement.
(vi) A financial and economic analysis and report from an independent expert or consultant of the effect of the acquisition under the criteria set forth in La. Rev. Stat. 40:2115.17.
(b) A copy of the application shall be submitted to the attorney general. The application shall be considered a public record.
Acts 1997, No. 1371, §1, eff. Jan. 1, 1998.