§ 10-433. Sale or transfer of facility ownership--Notices
West's Annotated Code of MarylandHuman ServicesEffective: October 1, 2007
Effective: October 1, 2007
MD Code, Human Services, § 10-433
§ 10-433. Sale or transfer of facility ownership--Notices
(a)(1) At least 90 days before the proposed effective date of a sale or other transfer, a provider subject to § 10-432(b) of this subtitle shall file with the Department a statement of intent to transfer ownership or control.
(2) At least 65 days before the proposed effective date of the sale or other transfer, a provider subject to § 10-432(b) of this subtitle and any proposed new provider shall give written notice of the proposed sale or other transfer, including notice of the place and time of the meeting required by § 10-434(b) of this subtitle, to the subscribers of the affected facility and the Department.
(b)(1) The written notice to the Department required under subsection (a)(2) of this section shall include:
(vi) the name and address of any business or professional entity in which a person identified in item (iii)6 of this paragraph has a 10% or greater financial interest and that is likely to provide goods, premises, or services with a value of $10,000 or more a year to the facility or provider after the sale or transfer, and a description of the goods, premises, or services;
4. within the past 10 years, had a state or federal license or permit suspended or revoked because of an action brought by a governmental unit arising out of or relating to business activity or health care, including actions affecting a license to operate a facility or service for senior, impaired, or dependent persons;
(ix) a financial plan provided by the entity that will be the provider after the proposed sale or other transfer is completed in a form reasonably acceptable to the Department that demonstrates the projected effects of the sale or transfer on the financial operations of the provider and the facility, including any obligations of the provider to make payments in connection with the sale or transfer from the financial resources of the provider or the facility; and
(2) In addition to the information required to be provided under paragraph (1) of this subsection, a provider subject to § 10-432(b) of this subtitle and any proposed new provider shall provide to the Department any other information that the Department requires to evaluate the proposed transaction.
Credits
Added by Acts 2007, c. 3, § 2, eff. Oct. 1, 2007.
MD Code, Human Services, § 10-433, MD HUMAN SERV § 10-433
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |