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DE SB156
Bill
Status
9/4/2018
Primary Sponsor
Bryan Townsend
Click for details
AI Summary
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Amends § 2532 of Title 29 regarding notice requirements for not-for-profit healthcare conversion transactions.
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Changes notice requirement from "within 180 days" to "at least 180 days prior to" the closing date of the proposed transaction.
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Ensures the Attorney General receives sufficient advance notice to review proposed conversions and protect charitable assets held for public benefit.
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Corrects an apparent drafting error that previously allowed notice to be provided as late as the transaction closing date, which prevented proper regulatory review.
Legislative Description
An Act To Amend Title 29 Of The Delaware Code Relating To Conversion Transactions For Not-for-profit Healthcare Entities.
Last Action
Signed by Governor
9/4/2018