Section 5-101 - Definitions.
§ 6.5-101. Definitions.
(a) In general.- In this title the following words have the meanings indicated.
(b) Acquisition.- "Acquisition" means:
(1) a sale, lease, transfer, merger, or joint venture that results in the disposal of the assets of a nonprofit health entity to a for-profit corporation or entity or to a mutual benefit corporation or entity when a substantial or significant portion of the assets of the nonprofit health entity are involved or will be involved in the agreement or transaction;
(2) a transfer of ownership, control, responsibility, or governance of a substantial or significant portion of the assets, operations, or business of the nonprofit health entity to any for-profit corporation or entity or to any mutual benefit corporation or entity;
(3) a public offering of stock; or
(4) a conversion to a for-profit entity.
(c) Administration.- "Administration" means the Maryland Insurance Administration.
(d) Department.- "Department" means the Department of Health and Mental Hygiene.
(e) Health maintenance organization.- "Health maintenance organization" has the meaning stated in § 19-701 of the Health - General Article.
(f) Hospital.- "Hospital" has the meaning stated in § 19-301 of the Health - General Article.
(g) Nonprofit health entity.- "Nonprofit health entity" means:
(1) a nonprofit hospital;
(2) a nonprofit health service plan; or
(3) a nonprofit health maintenance organization.
(h) Nonprofit health service plan.- "Nonprofit health service plan" means a corporation without capital stock with a certificate of authority from the Insurance Commissioner to operate as a nonprofit health service plan or a nonprofit dental plan.
(i) Public assets.- "Public assets" include:
(1) assets held for the benefit of the public or the community;
(2) assets in which the public has an ownership interest; and
(3) assets owned by a governmental entity.
(j) Regulating entity.- "Regulating entity" means:
(1) for an acquisition of a nonprofit hospital, the Attorney General in consultation with the Department;
(2) for an acquisition of a nonprofit health service plan, the Administration; and
(3) for an acquisition of a nonprofit health maintenance organization, the Administration.
(k) Transferee.- "Transferee" means the person in an acquisition that receives the ownership or control of the nonprofit health entity that is the subject of the acquisition.
(l) Transferor.- "Transferor" means the nonprofit health entity that is the subject of the acquisition, or the corporation that owns the nonprofit health entity that is the subject of the acquisition.
[1998, chs. 123, 124; 2002, ch. 154.]