The following words and phrases when used in this chapter
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Acquisition." An acquisition by a person of an interest in
a hospital or hospital system by purchase, sale, option, merger,
lease, gift, joint venture, spin-off, split-off,
recapitalization, exchange, conveyance, transfer or otherwise
that results in any of the following:
(1) A change of ownership or control of 20% or more of
the assets, operations or voting securities of the hospital
or hospital system.
(2) The acquiring person holding or controlling 50% or
more of the assets, operations or voting securities of the
hospital or hospital system.
(3) The direct or indirect transfer of control,
responsibility or governance of 20% or more of the assets,
operations or voting securities of the hospital or hospital
system. For purposes of this paragraph, a transfer includes
any of the following:
(i) The substitution of a new corporate member that
transfers the control of, responsibility for or
governance of the hospital or hospital system.
(ii) The substitution of one or more members of the
governing body or any arrangement, written or oral, that
would transfer voting control of the members of the
governing body.
(iii) Either of the following:
(A) The entry into a voting agreement covering,
or the deposit into a voting trust regarding, that
control, responsibility or governance.
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