STATE STATUTES & CODES
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MARYLAND STATUTES AND CODES
Section 10-343 - Maryland Hospital Bond Program.
§ 10-343. Maryland Hospital Bond Program.
(a) Established.- There is a Maryland Hospital Bond Program in the Authority.
(b) Requirements - Closure or delicensure before October 1, 2008.- For public obligations issued on behalf of a hospital before October 1, 2008, the Program shall provide for the payment and refinancing of public obligations of a hospital, if:
(1) (i) the closure of the hospital is in accordance with § 19-120(l) of the Health - General Article; or
(ii) the delicensure of the hospital is in accordance with § 19-325 of the Health - General Article;
(2) a public obligation issued on behalf of the hospital is outstanding; and
(3) the hospital plan for closure or delicensure and the related financing plan is acceptable to:
(i) the Secretary of Health and Mental Hygiene, in consultation with the Maryland Health Care Commission; and
(ii) the Authority.
(c) Requirements - Closure or delicensure before October 1, 2008.- For public obligations issued on behalf of a hospital on or after October 1, 2008, the Program shall provide for the payment and refinancing of public obligations of a hospital, if:
(1) (i) the closure of the hospital is in accordance with § 19-120(l) of the Health - General Article; or
(ii) the delicensure of the hospital is in accordance with § 19-325 of the Health - General Article;
(2) a public obligation issued on behalf of the hospital is outstanding;
(3) the hospital plan for closure or delicensure and the related financing plan is acceptable to:
(i) the Secretary of Health and Mental Hygiene, in consultation with the Maryland Health Care Commission; and
(ii) the Authority; and
(4) the Health Services Cost Review Commission determines that implementation of the Program is in the public interest, taking into account the amount of system-wide savings to the health care system in the State that might be expected as a result of the closure.
[An. Code 1957, art. 43C, § 16A(d); 2008, ch. 306, § 2; ch. 641.]