50-4-713. Deadline for approval or nonapproval. (1) Within 60 days after the record, including the public hearing process, has been closed, the commissioner and the attorney general shall each issue a separate order to:
(a) approve the conversion transaction, with or without modifications; or
(b) disapprove the conversion transaction.
(2) If the commissioner and the attorney general do not both determine that the conversion transaction is approved, the conversion transaction is disapproved.
(3) Subject to subsection (4), the commissioner or the attorney general may, for cause, extend the time for making a determination for a 60-day period.
(4) The commissioner and the attorney general are limited to a maximum of two 60-day extensions for making a determination on the same application.
History: En. Sec. 11, Ch. 214, L. 2005.
Structure Montana Code Annotated
Part 7. Conversion of Nonprofit Health Entity to For-Profit or Mutual Benefit Corporation
50-4-702. Conversion transaction -- approval
50-4-703. Rulemaking authority
50-4-705. and 50-4-706 reserved
50-4-707. Application process -- content
50-4-709. Receiving an application -- notice of application
50-4-713. Deadline for approval or nonapproval
50-4-714. Effect of determination
50-4-715. Criteria for attorney general approval of conversion transaction
50-4-716. Criteria for distribution of assets
50-4-717. Criteria for commissioner approval of conversion transaction