Part Definitions

1. Law
2. Tennessee Code
3. Securities, Corporations and Associations
4. Transition Provisions
5. Public Benefit Hospital Sales and Conveyance Act of 2006
6. Part Definitions

As used in this part, unless the context otherwise requires:

1. “Acquiring entity” means the person who gains ownership or control of a public benefit hospital entity as a result of a public benefit hospital conveyance transaction;
2. “Person” means any individual, partnership, trust, estate, corporation, association, joint venture, joint stock company or other organization;
3. 1. “Public benefit hospital conveyance transaction” means:
      1. The sale, transfer, lease, exchange, optioning, conveyance or other disposition of a material amount of the assets or operations of any public benefit hospital entity to an entity or person other than another public benefit hospital entity that controls, is controlled by or is under common control with such public benefit hospital entity; and
      2. The transfer of control or governance of a public benefit hospital entity to an entity or person other than another public benefit hospital entity that controls, is controlled by or is under common control with such public benefit hospital entity;
   2. “Public benefit hospital conveyance transaction” includes any transaction described in subdivision (3)(A)(i) or (3)(A)(ii) that is entered into by the public benefit hospital entity or by any entity that controls, is controlled by or is under common control with such public benefit hospital entity;
4. “Public benefit hospital entity” means any public benefit corporation, as defined in chapter 51, part 2 of this title, or any governmental entity that is licensed as a hospital under title 68, chapter 11, part 2, or considered a hospital under title 33, chapter 1, including entities affiliated with any of these through ownership, governance, or membership, such as a holding company or subsidiary.

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