Rep. Robyn Gabel

Filed: 3/23/2015

 

 


 

 


 
09900HB3504ham001LRB099 09189 JLK 33070 a

1
AMENDMENT TO HOUSE BILL 3504

2    AMENDMENT NO. ______. Amend House Bill 3504 as follows:
 
3on page 4, line 6, by replacing "on 3 consecutive days" with
4"on one day 3 consecutive days"; and
 
5on page 4, line 14, by replacing "on 3 consecutive" with "on
6one day 3 consecutive"; and
 
7on page 4, by replacing line 15 with the following:
 
8"days. The applicant shall pay the cost incurred by the Board
9in publishing the change of ownership notice in newspapers as
10required under this subsection. The legal notice shall also be
11posted on the Health"; and
 
12by replacing line 24 on page 4 through line 18 on page 5 with
13the following:
 

 

 

09900HB3504ham001- 2 -LRB099 09189 JLK 33070 a

1"An application for a change of ownership need not contain
2signed transaction documents so long as it includes the
3following key terms of the transaction: names and background of
4the parties; structure of the transaction; the person who will
5be the licensed or certified entity after the transaction; the
6ownership or membership interests in such licensed or certified
7entity both prior to and after the transaction; fair market
8value of assets to be transferred; and the purchase price or
9other form of consideration to be provided for those assets.
10The issuance of the certificate of exemption shall be
11contingent upon the applicant submitting a statement to the
12Board within 90 days after the closing date of the transaction,
13or such longer period as provided by the Board, certifying that
14the change of ownership has been completed in accordance with
15the key terms contained in the application. If such key terms
16of the transaction change, a new application shall be
17required."; and
 
18by replacing line 25 on page 5 through line 4 on page 6 with the
19following:
 
20"ownership. Once such an application is submitted to the Board
21and reviewed by the Board staff, the Board Chair shall take
22action on an application for an exemption for a change of
23ownership among related persons within 45 days after the

 

 

09900HB3504ham001- 3 -LRB099 09189 JLK 33070 a

1application has been deemed complete, provided the application
2meets the applicable standards under this Section. If the Board
3Chair has a conflict of interest or for other good cause, the
4Chair may request review by the".