Section 40:2115.12 - DefinitionsThe terms in this Subpart shall have the meaning provided below:
(1) "Acquisition" means any acquisition by a person of an ownership or controlling interest in a not-for-profit hospital, whether by purchase, merger, lease, gift, or otherwise, that results in a change of ownership or control of thirty percent or greater of either the voting rights or the assets of a hospital, or that results in the acquiring person holding a fifty percent or greater interest in the ownership or control of a hospital.(2) "Attorney general" means the attorney general or his designee.(3) "Charitable assets" means those tangible and intangible assets in the form of movable and immovable property and equipment, personnel, and services acquired by a hospital through the expenditure of direct and indirect state, federal and local funds, or funds retained by virtue of their non-taxable status, and through money paid through the patronage of members of the community the hospital serves.La. Public Health and Safety § 40:2115.12
Acts 1997, No. 1371, §1, eff. Jan. 1, 1998.Acts 1997, No. 1371, §1, eff. 1/1/1998.