§ 24 §2301-A — Continuity of licensure; business combinations

When a health maintenance organization authorized pursuant to Title 24‑A, chapter 56 merges or consolidates with a nonprofit hospital, medical or health care service organization and operations of the surviving entity include those of a health maintenance organization, the surviving entity succeeds on a continuing basis to the authority possessed by the merging entities if:
1.
Plan approved.
The Superintendent has approved the plan of merger or consolidation pursuant to Title 24‑A, section 4203;
2.
Entity financially qualified.
The entity is financially qualified pursuant to the provisions of Title 24‑A, sections 410 and 4204‑A; and
3.
Entity otherwise qualified.
The entity is otherwise qualified pursuant to this Title and Title 24‑A, chapter 56.

Legislative History

PL 1993, c. 702, §A2 (NEW).