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Act Concerning The Expenses Relating To The Sale Of NFP Hospitals

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Most recently there is an act concerning the expenses relating to the sale of nonprofit hospitals. The Senate and House of Representatives in the General Assembly may contract with experts or consultants to assist in the reviewing the proposed agreement.

Be it enacted by the Senate and House of Representatives in General Assembly convened: Section 1. Subsection (c) of section 19a-486c of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage): (c) The Attorney General may contract with experts or consultants to assist in reviewing the proposed agreement, including, but not limited to, assistance in independently determining the fair market value of the nonprofit hospital's assets. The Attorney General may appoint, or contract with, another person to conduct the review required by this section and make recommendations to the Attorney General. The Attorney General shall submit any bills for such contracts to the purchaser. The purchaser shall pay such bills [within thirty days of] not later than thirty days after receipt. Such bills shall not exceed [three] five hundred thousand dollars. This act shall take effect as follows and shall amend the following sections: Section 1 from passage 19a-486c(c)

Statement of Purpose:
To increase the amount that a purchaser of a nonprofit hospital may be responsible for paying for the review of a proposed agreement.

Source: Brian M. Sullivan, Esq., Government Affairs Associate | Kenneth L. Przybysz, LLC, 50 Goodwin
 
 
 
 
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