New Jersey Administrative Code
Title 8 - HEALTH
Chapter 96 - HOSPITAL FINANCIAL TRANSPARENCY
Subchapter 7 - SALE, LEASE, SALE-LEASEBACK, OR OTHER TRANSFER OF HOSPITAL BUILDING OR GROUNDS
Section 8:96-7.2 - Sale, lease, or sale-leaseback agreement with a non-hospital owner or a director, officer, key employee, or highly compensated individual, as well as any owner of the hospital
Universal Citation: NJ Admin Code 8:96-7.2
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The hospital shall ensure that a sale, lease, or sale-leaseback agreement transferring hospital property and/or buildings to a non-hospital owner or a director, officer, key employee, highly compensated individual, or any owner(s) of the hospital, shall contain:
1. A provision in which the proposed purchaser of the hospital property or building agrees and acknowledges that, despite its ownership interest, any action to discontinue hospital operations or transfer the hospital operating license is prohibited, absent Department approval upon review of an application for a certificate of need or license to undertake the action; and
2. An established and functioning governing body of the hospital operator remains responsible for institutional management and planning of the hospital.
Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
