California Health and Safety Code

§ 1399.72

HSC § 1399.72 Effective Jan 1, 2022Div. 2 · Ch. 2.2 · Art. 11

Statute text

(a)Any health care service plan that intends to convert from nonprofit to for-profit status, as defined in subdivision (b), shall, prior to the conversion, secure approval from the director.

(b)For the purposes of this section, a “conversion” or “convert” by a nonprofit health care service plan means the transformation of the plan from nonprofit to for-profit status, as determined by the director.

(c)Prior to approving a conversion, the director shall find that the conversion proposal meets all of the following charitable trust requirements:

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Legislative history

Amended by Stats. 2021, Ch. 615, Sec. 230. (AB 474) Effective January 1, 2022. Operative January 1, 2023, pursuant to Sec. 463 of Stats. 2021, Ch. 615.