1. (1) A person that seeks to engage in a conversion transaction for a nonprofit health entity and the nonprofit health entity shall submit an application to the commissioner and a copy of the application to the attorney general.
2. (2) The application submitted under subsection (1) is in addition to any other filing required by law.

3. (3) An application must include:

   1. (a) the name of the proposed transferor;
   2. (b) the name of the proposed transferee;
   3. (c) the names of any other parties to the conversion transaction agreement;
   4. (d) the terms of the proposed conversion transaction, including but not limited to a description and valuation of all consideration exchanges as a part of or as a result of the conversion and the extent to which the assets proposed to be converted are public assets;
   5. (e) a copy of the conversion transaction agreement;
   6. (f) a financial and community impact analysis report from an independent expert or consultant that addresses the criteria in 50-4-715 through 50-4-717;
   7. (g) an independent valuation of the fair market value of the nonprofit health entity for a valuation date within 1 year prior to receipt by the nonprofit health entity or publication of a bona fide bid, offer, or letter of intent to acquire the nonprofit health entity; and
   8. (h) an antitrust analysis prepared by an appropriate expert.

History: En. Sec. 5, Ch. 214, L. 2005.