New Jersey § 18a:64g-6

§ 18a:64g-6.

a. University Hospital shall be required to obtain approval from the Superior Court

of New Jersey prior to entering into a transaction that results in the acquisition

of the hospital, and shall satisfy the requirements of the “Community Health Care

Assets Protection Act,” P.L.2000, c. 143 ( C.26:2H-7.10 et seq. ). Any acquisition of University Hospital by a new entity after the effective date

of this act shall be structured so as to retain the status of University Hospital

employees as public employees within the meaning of the “New Jersey Employer-Employee

Relations Act,” P.L.1941, c. 100 ( C.34:13A-1 et seq. ). b. The Attorney General, in consultation with the Commissioner of Health and Senior

Services, shall adopt regulations pursuant to the “Administrative Procedure Act,”

P.L.1968, c. 410, ( C.52:14B-1 et seq. ), to carry out the purposes of subsection a. of this section. c. In determining whether the proposed acquisition is in the public interest, meaning

that appropriate steps have been taken to safeguard the value of the hospital's public

assets and to ensure that any proceeds from the proposed acquisition are irrevocably

dedicated for appropriate charitable health care purposes, the same criteria and process

shall apply as set forth in the “Community Health Care Assets Protection Act,” P.L.2000, c. 143 ( C.26:2H-7.10 et seq. ) and the Attorney General shall consider: (1) whether the public entity that owns and operates the public hospital exercised

due diligence in deciding to effectuate the acquisition, selecting the other party

to the acquisition and negotiating the terms and conditions of the acquisition; (2) the procedures used by the public entity in making its decision, including whether

the appropriate expert assistance was used; (3) whether conflicts of interest were disclosed, including conflicts relating to

board members of the public hospital, executives of, and experts retained by, the

public hospital, purchaser or other parties to the acquisition; (4) whether any management contract under the acquisition is for reasonable value; (5) whether the public entity will receive full and fair market value for its assets; (6) whether the public entity established appropriate criteria in deciding to pursue

the acquisition in relation to carrying out the mission and purpose of the public

entity and the hospital; (7) whether the acquisition is structured so as to retain the status of University

Hospital employees as public employees within the meaning of subsection d. of section

3 of the “New Jersey Employer-Employee Relations Act,” P.L.1941, c. 100 ( C.34:13A-3 ) and any applicable State pension and health benefits laws; and (8) any other criteria set forth in the “Community Health Care Assets Protection Act”

or established pursuant to that act by the Attorney General. d. University Hospital shall be required to obtain approval from the Department of

Health and Senior Services prior to entering into a transaction that results in the

acquisition of the hospital and shall satisfy the certificate of needs requirements. e. The Commissioner of Health and Senior Services shall determine whether the proposed

acquisition will result in the deterioration of the quality, availability, or accessibility

of health care services in the affected communities. f. For a period of five years, any substantive changes to essential health care services

provided by University Hospital shall be subject to review by the University Hospital

Community Oversight Board and approval by the Department of Health and Senior Services

through a licensing review process. g. University Hospital shall provide quarterly financial statements to the Department

of Health and Senior Services which shall be posted on the hospital's public Internet

website.