§ 6-19-102 — Definitions

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

(1) Covered transaction means any transaction that would result in the sale,
transfer, lease, exchange, or other disposition of fifty percent or more of the assets
of a hospital. A series of transactions taking place in any five-year period, which
would result in the aggregate of the transfer of fifty percent or more of a hospital's
assets, shall in all circumstances be deemed to be a covered transaction. Covered
transaction shall also include the sale, transfer, or other disposition of the control
of a parent company, holding company, or other entity controlling a hospital. For
the purposes of this subsection (1), fifty percent or more of the assets shall be
based on the fair market value of all of the assets of the hospital.

(2) For-profit entity means a business corporation, general partnership,
limited partnership, limited liability limited partnership, limited liability partnership,
limited liability company, limited partnership association, and cooperative.

(3) Hospital means a licensed or certified hospital as described in section
25-1.5-103 (1)(a)(I) and (1)(a)(II), C.R.S.

Legislative History

Source: L. 98: Entire article added, p. 521, � 1, effective April 30. L. 2003: (3) amended, p. 700, � 4, effective July 1.