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Rep. Robyn Gabel
Filed: 3/23/2015
| | 09900HB3504ham001 | | LRB099 09189 JLK 33070 a |
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| 1 | | AMENDMENT TO HOUSE BILL 3504
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| 2 | | AMENDMENT NO. ______. Amend House Bill 3504 as follows:
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| 3 | | on page 4, line 6, by replacing "on 3 consecutive days" with |
| 4 | | "on one day 3 consecutive days"; and
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| 5 | | on page 4, line 14, by replacing "on 3 consecutive" with "on |
| 6 | | one day 3 consecutive"; and
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| 7 | | on page 4, by replacing line 15 with the following:
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| 8 | | "days. The applicant shall pay the cost incurred by the Board |
| 9 | | in publishing the change of ownership notice in newspapers as |
| 10 | | required under this subsection. The legal notice shall also be |
| 11 | | posted on the Health"; and
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| 12 | | by replacing line 24 on page 4 through line 18 on page 5 with |
| 13 | | the following:
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| | 09900HB3504ham001 | - 2 - | LRB099 09189 JLK 33070 a |
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| 1 | | "An application for a change of ownership need not contain |
| 2 | | signed transaction documents so long as it includes the |
| 3 | | following key terms of the transaction: names and background of |
| 4 | | the parties; structure of the transaction; the person who will |
| 5 | | be the licensed or certified entity after the transaction; the |
| 6 | | ownership or membership interests in such licensed or certified |
| 7 | | entity both prior to and after the transaction; fair market |
| 8 | | value of assets to be transferred; and the purchase price or |
| 9 | | other form of consideration to be provided for those assets. |
| 10 | | The issuance of the certificate of exemption shall be |
| 11 | | contingent upon the applicant submitting a statement to the |
| 12 | | Board within 90 days after the closing date of the transaction, |
| 13 | | or such longer period as provided by the Board, certifying that |
| 14 | | the change of ownership has been completed in accordance with |
| 15 | | the key terms contained in the application. If such key terms |
| 16 | | of the transaction change, a new application shall be |
| 17 | | required."; and
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| 18 | | by replacing line 25 on page 5 through line 4 on page 6 with the |
| 19 | | following:
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| 20 | | "ownership. Once such an application is submitted to the Board |
| 21 | | and reviewed by the Board staff, the Board Chair shall take |
| 22 | | action on an application for an exemption for a change of |
| 23 | | ownership among related persons within 45 days after the |