This text of New Mexico § 24A-9-6 (Notice of proposed transaction; general provisions;) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
requirements; consultations; experts; payment of costs.
A.At least one person that is a party to a proposed transaction shall submit to the authority a written notice of the proposed transaction in the form and manner prescribed by the authority. The parties shall pay the reasonable costs and expenses incurred by the authority in the performance of the authority's duties pursuant to the Health Care Consolidation Oversight Act for costs associated with the authority's contracts with experts, unless determined otherwise by the secretary. The authority shall notify parties before any costs are incurred when a transaction review requires the use of outside experts, including the estimated cost of their services.
B.Upon receipt of a complete notice of a proposed transaction, the authority sha
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requirements; consultations; experts; payment of costs. A. At least one person that is a party to a proposed transaction shall submit to the authority a written notice of the proposed transaction in the form and manner prescribed by the authority. The parties shall pay the reasonable costs and expenses incurred by the authority in the performance of the authority's duties pursuant to the Health Care Consolidation Oversight Act for costs associated with the authority's contracts with experts, unless determined otherwise by the secretary. The authority shall notify parties before any costs are incurred when a transaction review requires the use of outside experts, including the estimated cost of their services. B. Upon receipt of a complete notice of a proposed transaction, the authority shall determine if the transaction is urgently necessary to maintain the solvency of a hospital or if there is an emergency that threatens the continued provision of immediate health care services. In such circumstances, the authority may agree to an immediate approval of a transaction with or without conditions. C. Entry into a binding agreement before a transaction is effectuated is not a violation of the Health Care Consolidation Oversight Act if the transaction remains subject to regulatory review and approval. D. If a party to the proposed transaction is a health insurer, the notice shall be submitted as an addendum to any filing required by Sections 59A-37-4 through 59A-37- 10 NMSA 1978. E. The notice of the proposed transaction shall include: (1) the terms of the proposed transaction and copies of all transaction agreements between any of the parties; (2) a list of the parties and business addresses; (3) a statement describing the proposed transaction, the goals of the proposed transaction and whether and how the proposed transaction affects health care services in New Mexico; (4) the geographic service area affected by the proposed transaction; (5) a description of the groups or individuals likely to be affected by the transaction; and (6) a summary of the health care services currently provided by any of the parties and any health care services that will be added, reduced or eliminated, including an explanation of why any services will be reduced or eliminated in the service area in which they are currently provided. F. The authority may consult with the office about the potential effect of the proposed transaction and incorporate the office's recommendations into the authority's final determination. G. The authority may retain actuaries, accountants, attorneys or other professionals who are qualified and have expertise in the type of transaction under review as necessary to assist the authority in conducting its review of the proposed transaction. H. The parties shall not effectuate a transaction without the written approval of the secretary. The submitting party shall notify the authority in a form and manner prescribed by the authority when the transaction has been effectuated. I. Parties to a proposed transaction may request a pre-notice conference to determine if they are required to file a notice or to discuss the potential extent of the review. J. The authority shall provide all notices and documents received from any of the parties to a proposed transaction to the office and the attorney general. The attorney general may provide input to the authority about the potential effect of a proposed transaction relative to the Antitrust Act [57-1-1 through 57-1-15 NMSA 1978], the Unfair Practices Act [Chapter 57, Article 12 NMSA 1978 ] or other state or federal law. K. Nothing in the Health Care Consolidation Oversight Act shall amend, modify, abrogate or otherwise affect the applicability or obligations of a party to a transaction or acquisition under any other state or federal law. The filing obligations under that act are in addition to any other obligation that may be required under other laws.