[PART VII.] HOSPITAL ACQUISITION
[§323D-71] Definitions. For the purpose of this part, unless the context requires otherwise:
"Acquisition" means any acquisition by a person or persons of an ownership or controlling interest in a hospital, whether by purchase, merger, lease, gift, or otherwise, that results in a change of ownership or control of twenty per cent or greater or which results in the acquiring person or persons holding a fifty per cent or greater interest in the ownership or control of that hospital, but does not include the acquisition of an ownership or controlling interest in a private nonprofit hospital by a transferee that:
(1) Is a nonprofit corporation having a substantially similar charitable health care purpose as the transferor or is a governmental entity;
(2) Is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or [is] a governmental entity; and
(3) Maintains representation from the affected community on the local board.
"Agency" means the state health planning and development agency.
"Hospital" means an institution with an organized medical staff, regulated under section 321-11(10) which admits patients for inpatient care, diagnosis, observation, and treatment, but does not include a public health facility under chapter 323F.
"Person" has the meaning found in section 323D-2. [L 1998, c 257, pt of §1]