§ 6-19-402 — Notice and filing

(1) The notice and filing provided to the
attorney general pursuant to section 6-19-103 shall include all proposed
agreements relating to the proposed transaction, all agreements regarding
collateral transactions that relate to the principal transaction, any reports of
financial and economic analysis that the nonprofit entity reviewed or relied on in
negotiating the proposed transaction, and an explanation of how the completed
transaction will comply with the requirements of section 6-19-403. The attorney
general shall notify the parties to the transaction if the filing is complete or
incomplete within thirty days after the initial filing and shall specify the omitted
documentation if incomplete. An initial filing that includes a schedule for the
submission of subsequently produced or acquired documents may be deemed
complete by the attorney general.

(2) Within sixty days after the complete filing required by this section, the
attorney general shall notify in writing the parties to the transaction of the results
and conclusions of the review and assessment. The attorney general may extend
this period for an additional period of up to ninety days if the attorney general
determines, for good cause, that additional time is warranted and so advises the
parties in writing. The attorney general shall notify the parties of any extension as
soon as possible.

Legislative History

Source: L. 98: Entire article added, p. 524, � 1, effective April 30.