Legislation


N.D. Cent. Code § 10-33-144. Transaction by a nonprofit corporation operating or controlling a hospital or nursing home — Notice to attorney general — Waiting period: Nonprofit Corporations – North Dakota

Status: Enacted
Year Enacted: 1999
Year Amended: 2003
File: Download

A nonprofit corporation operating or controlling a hospital or nursing home shall notify the attorney general in writing before closing an agreement or a transaction that will:
a. Sell, lease, transfer, exchange, option, convey, or otherwise dispose of to a for-profit corporation or entity or a nonprofit corporation or entity if fifty percent or more of the assets of the selling corporation are involved in the agreement or transaction;
b. Transfer control, responsibility, or governance of fifty percent or more of the assets or operations of the nonprofit corporation to a for-profit corporation or entity or another nonprofit corporation or entity; or
c. Result in any for-profit corporation or entity or another nonprofit corporation or entity having control of, governance of, or the power to direct management and policies of the nonprofit corporation operating or controlling a hospital, nursing home, or related organization.


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