§ 35-1-1002 — Definitions

(a) As used in this article:
(i) "Challenge account" means the critical access or
rural hospital endowment challenge account created under this
article;
(ii) "Critical access or rural hospital" means:
(A) A county hospital established pursuant to
W.S. 18-8-101, et seq., or a special district hospital
established pursuant to W.S. 35-2-401, et seq., that is
certified to receive cost-based reimbursement from Medicare or
has forty (40) beds or less; or
(B) A hospital that is certified to receive
cost-based reimbursement from Medicare or has forty (40) beds or
less which is owned by a private not for profit entity and is
operated in a county in this state in which there is no hospital
meeting the requirements of subparagraph (A) of this paragraph.
(iii) "Endowment gift" means an irrevocable gift or
transfer to a Wyoming critical access or rural hospital
foundation of money or other property, whether real, personal,
tangible or intangible, and whether or not the donor or
transferor retains an interest in the property, where the gift
or the foundation's interest in the property is required to be
used by the foundation exclusively for endowment purposes,
provided:
(A) The gift was received or the transfer
occurred during the period July 1, 2007, through June 30, 2014;
or
(B) A commitment to make the gift or transfer
was made in writing to the respective critical access or rural
hospital foundation, which commitment was received during the
period July 1, 2007, through June 30, 2014, and the gift was
received or the transfer occurred not later than June 30, 2015.
(iv) "Foundation" means an organization established
for each critical access or rural hospital that among other
purposes, exists to generate additional revenues for critical
access or rural hospital programs and activities;
(v) "Permanent endowment funds managed by a Wyoming
critical access or rural hospital foundation" means the
endowment funds that are invested by the respective Wyoming
critical access or rural hospital foundation on a permanent
basis and the earnings on those investments are dedicated to be
expended exclusively to benefit and promote the mission,
operation or any program or activity of the respective critical
access or rural hospital, including but not limited to capital
and programmatic expenses, healthcare, increases to the corpus
of the endowment and to defray reasonable costs of endowment
administration;
(vi) "Unobligated," for purposes of W.S. 35-1-1003(b)
and (d), means no commitment meeting the requirements of
subparagraph (iii)(B) of this subsection was received prior to
June 30, 2012.
Note: Effective 7/1/2026 this paragraph will read as:
(vi) "Unobligated," for purposes of W.S. 35-1-
1003(b), means no commitment meeting the requirements of
subparagraph (iii)(B) of this subsection was received prior to
June 30, 2012.