O.C.G.A.

O.C.G.A. § 31-7-402 (2019)

Content and form of notice to Attorney General; retention of experts; payment of costs and expenses

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(a) Notice to the Attorney General required by this article shall include the name of the seller or lessor; the name of the acquiring entity and other parties to the acquisition; the county in which the main campus of the hospital is located; the terms of the proposed agreement and any related agreements including leases, management contracts, and service contracts; the acquisition price; a copy of the acquisition agreement and any related agreements including leases, management contracts, and service contracts; any valuations of the hospital’s assets prepared in the three years immediately preceding the proposed transaction date; a financial and economic analysis and report from any expert or consultant retained by the seller or lessor which addresses each of the criteria set forth in Code Section 31-7-406; articles of incorporation and bylaws of the nonprofit corporation and related entities and foundations; all donative documents reflecting the purposes of prior gifts of more than $100,000.00 in value by donors to the nonprofit corporation or any related entities or foundations for or on behalf of the hospital; and all documents pertaining to the disposition of assets, including those documents which are included as schedules or exhibits to the acquisition agreement and any related agreements.

(b) The Attorney General may prescribe a form of notice to be utilized by the seller or lessor and the acquiring entity and may require information in addition to that specified in this article if the disclosure of such information is determined by the Attorney General to be in the public interest. The notice to the Attorney General required by this article and all documents related thereto shall be considered public records pursuant to Article 4 of Chapter 18 of Title 50.

(c) The Attorney General shall be authorized to retain financial, economic, health planning, or other experts or consultants to assist in addressing each of the criteria set forth in Code Section 31-7-406. Within 30 days after notice from the Attorney General, the actual and reasonable cost and expense incurred in connection with the retention of such experts or consultants shall be paid directly to such experts and consultants by the parties to the proposed transaction in such proportionate amounts as the parties may agree or otherwise as determined by the Attorney General.

History

Code 1981, § 31-7-402, enacted by Ga. L. 1997, p. 1091, § 1; Ga. L. 2009, p. 711, § 1/HB 667; Ga. L. 2012, p. 218, § 6/HB 397.

Annotations

Law reviews. - For article on the 2012 amendment of this Code section, see 29 Ga. St. U. L. Rev. 139 (2012).

JUDICIAL DECISIONS Cited in Turpen v. Rabun County Bd. of Comm’rs, 245 Ga. App. 190, 537 S.E.2d 435 (2000).

Notes of Decisions
Cited in 3 cases, 1999–2020 · leading case: Turpen v. Rabun Cnty. Bd. of Commissioners, 537 S.E.2d 435 (Ga. Ct. App. 2000).
Turpen v. Rabun Cnty. Bd. of Commissioners, 537 S.E.2d 435 (Ga. Ct. App. 2000). · cites it 8× “See OCGA § 31-7-402 (a), (c). The applicants identified the Sales Contract and the lease as the applicable contracts.”
Sparks v. Hosp. Auth., 526 S.E.2d 593 (Ga. Ct. App. 1999). · cites it 2× “” The following sections, OCGA §§ 31-7-402 and 31-7-403, lay out the information about the transaction which the negotiating parties must provide to the Attorney General.”
Cobb Hosp., Inc. v. Emory-Adventist, Inc. (Ga. Ct. App. 2020). · cites it 2× “5 notify the Attorney General of the proposed acquisition,7 providing the specific information set forth in OCGA §§ 31-7-402 and 31-7-403, not only as to the financial particulars of the transaction, but also with regard to financial information of the nonprofit entity as…”
— 31-7-402(a) — 1 case
Turpen v. Rabun Cnty. Bd. of Commissioners, 537 S.E.2d 435 (Ga. Ct. App. 2000). “See OCGA § 31-7-402 (a), (c). The applicants identified the Sales Contract and the lease as the applicable contracts.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.