Georgia Code
Article 15 - Hospital Acquisition
§ 31-7-406. Purpose of Public Hearing; Factors to Be Addressed in Disclosure

The purpose of the public hearing shall be to ensure that the public’s interest is protected when the assets of a nonprofit hospital are acquired by an acquiring entity by requiring full disclosure of the purpose and terms of the transaction and providing an opportunity for local public input. The disposition of a nonprofit hospital to an acquiring entity shall not be in the public interest unless there has been adequate disclosure that appropriate steps have been taken to ensure that the transaction is authorized, to safeguard the value of charitable assets, and to ensure that any proceeds of the transaction are used for appropriate charitable health care purposes. Such disclosure shall address, at a minimum, the following factors:
History. Code 1981, § 31-7-406 , enacted by Ga. L. 1997, p. 1091, § 1.

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