98RS SB73


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SB 73/FN (BR 308) - E. Scorsone

     AN ACT relating to nonprofit corporations.
     Create new sections of KRS 273.161 to 273.390 to require a nonprofit corporation to give 20 days notice to the Attorney General before it sells, leases, conveys, transfers, or otherwise substantially disposes of all or substantially all of its assets unless it is in the regular course of business or the Attorney General has given the corporation a waiver; require a corporation that is a health facility to obtain written consent of the Attorney General of the sale, transfer, lease, exchange, option, conveyance, or other disposition of its assets to a for-profit corporation when a material amount of the assets of the corporation are involved; require the Attorney General to act within 60 days and permit an additional period of 45 days; require the Attorney General to hold at least one public meeting where the corporation is located; list the factors the Attorney General must consider before rendering its decision; authorize the Attorney General to contract with experts or consultants and permit the Attorney General to require the corporation to pay the costs.

     Jan 7-introduced in Senate
     Jan 8-to Health and Welfare (S)

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