Delaware SB313 imposes a moratorium on transactions involving nonprofit acute care hospitals to prevent private equity firms from gaining control.
Delaware SB313 amends Titles 16 and 29 of the Delaware Code to impose a moratorium on transactions involving nonprofit acute care hospitals. The bill prohibits individuals and entities, excluding charities and not-for-profit organizations, from entering into change of control or not-for-profit healthcare conversion transactions with these hospitals. Such transactions are void and of no legal effect. The Attorney General can seek injunctive relief and other remedies to enforce this prohibition.
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