{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/32.1-373.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/32.1-373.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/32.1-373.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/32.1-373.html"}],"law_id":56976,"edition_id":1,"section_id":56976,"structure_id":14930,"section_number":"32.1-373","catch_line":"Definitions","history":"1997, c. 615, \u00a7 55-531; 2000, c. 266; 2002, c. 516; 2005, c. 839; 2019, c. 712.","full_text":"As used in this chapter, unless the context requires a different meaning:\n\t\t“Disposition of assets” means any action undertaken by a nonprofit entity to dispose of control of all or substantially all of its assets pursuant to an agreement of sale, transfer, lease, exchange, option, joint venture, or partnership, or to convert to a for-profit entity or to otherwise restructure the nonprofit entity or its assets, resulting in a change in control or governance of the entity or assets.\n\t\t“Nonprofit entity” means (i) a foreign or domestic nonstock corporation licensed and subject to regulation under Chapter 42 (\u00a7 38.2-4200 et seq.) of Title 38.2 or (ii) a person that is exempt from taxation under 26 U.S.C. \u00a7 501(c)(3) or (4) and is, or owns, one of the following: (a) a hospital licensed under Chapter 5 (\u00a7 32.1-123 et seq.) of this title or Article 2 (\u00a7 37.2-403 et seq.) of Chapter 4 of Title 37.2; (b) a health maintenance organization licensed under Chapter 43 (\u00a7 38.2-4300 et seq.) of Title 38.2; (c) a nursing home, including a facility known by varying nomenclature or designation such as convalescent home, skilled nursing facility or skilled care facility, intermediate care facility, extended care facility, or certified nursing facility or nursing care facility, licensed under the provisions of Article 1 (\u00a7 32.1-123 et seq.) of Chapter 5; or (d) a facility for the provision of continuing care registered with the State Corporation Commission pursuant to Chapter 49 (\u00a7 38.2-4900 et seq.) of Title 38.2.","order_by":null,"text":{"0":{"id":208704,"text":"As used in this chapter, unless the context requires a different meaning:\n\t\t“Disposition of assets” means any action undertaken by a nonprofit entity to dispose of control of all or substantially all of its assets pursuant to an agreement of sale, transfer, lease, exchange, option, joint venture, or partnership, or to convert to a for-profit entity or to otherwise restructure the nonprofit entity or its assets, resulting in a change in control or governance of the entity or assets.\n\t\t“Nonprofit entity” means (i) a foreign or domestic nonstock corporation licensed and subject to regulation under Chapter 42 (\u00a7 38.2-4200 et seq.) of Title 38.2 or (ii) a person that is exempt from taxation under 26 U.S.C. \u00a7 501(c)(3) or (4) and is, or owns, one of the following: (a) a hospital licensed under Chapter 5 (\u00a7 32.1-123 et seq.) of this title or Article 2 (\u00a7 37.2-403 et seq.) of Chapter 4 of Title 37.2; (b) a health maintenance organization licensed under Chapter 43 (\u00a7 38.2-4300 et seq.) of Title 38.2; (c) a nursing home, including a facility known by varying nomenclature or designation such as convalescent home, skilled nursing facility or skilled care facility, intermediate care facility, extended care facility, or certified nursing facility or nursing care facility, licensed under the provisions of Article 1 (\u00a7 32.1-123 et seq.) of Chapter 5; or (d) a facility for the provision of continuing care registered with the State Corporation Commission pursuant to Chapter 49 (\u00a7 38.2-4900 et seq.) of Title 38.2.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14930,"edition_id":1,"name":"Disposition of Assets by Nonprofit Health Care Entities","identifier":"20","label":"chapter","depth":2,"order_by":1,"parent_id":12727,"metadata":{},"date_created":"2026-06-26 03:50:51","date_modified":"2026-06-26 03:50:51","permalink":{"id":202313,"object_type":"structure","relational_id":14930,"identifier":"20","token":"32.1\/20","url":"\/32.1\/20\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12727,"edition_id":1,"name":"Health","identifier":"32.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":201099,"object_type":"structure","relational_id":12727,"identifier":"32.1","token":"32.1","url":"\/32.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56976,"structure_id":14930,"section_number":"32.1-373","catch_line":"Definitions","url":"\/32.1-373\/","token":"32.1\/20\/32.1-373","metadata":false},{"id":77733,"structure_id":14930,"section_number":"32.1-374","catch_line":"Obligations of nonprofit entity","url":"\/32.1-374\/","token":"32.1\/20\/32.1-374","metadata":false},{"id":65603,"structure_id":14930,"section_number":"32.1-375","catch_line":"Applicability of chapter","url":"\/32.1-375\/","token":"32.1\/20\/32.1-375","metadata":false}],"next_section":{"id":77733,"structure_id":14930,"section_number":"32.1-374","catch_line":"Obligations of nonprofit entity","url":"\/32.1-374\/","token":"32.1\/20\/32.1-374","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/32.1-373\/","history_text":"

This law was first created in 1997. The record of its establishment is cataloged in chapter 615<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2000, chapter 266<\/a>; in 2002, chapter 516<\/a>; in 2005, chapter 839<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":[{"id":55214,"section_number":"15.2-5385","catch_line":"Chapter supplemental; application of other laws; consent of local governing bodies or other agencies not required","order_by":null,"url":"\/15.2-5385\/"}],"refers_to":[{"id":80727,"section_number":"32.1-123","catch_line":"(Effective January 1, 2026) Definitions","order_by":null,"url":"\/32.1-123\/"},{"id":60864,"section_number":"37.2-403","catch_line":"Definitions","order_by":null,"url":"\/37.2-403\/"},{"id":78890,"section_number":"38.2-4200","catch_line":"Applicability of chapter","order_by":null,"url":"\/38.2-4200\/"},{"id":72005,"section_number":"38.2-4300","catch_line":"Definitions","order_by":null,"url":"\/38.2-4300\/"},{"id":83470,"section_number":"38.2-4900","catch_line":"Definitions","order_by":null,"url":"\/38.2-4900\/"}],"permalink":{"id":202315,"object_type":"law","relational_id":56976,"identifier":"32.1-373","token":"32.1\/20\/32.1-373","url":"\/32.1-373\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/32.1-373\/","token":"32.1\/20\/32.1-373","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 32.1-373","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter, unless the context requires a different meaning:\n\t\t“Disposition of assets<\/span>” means any action undertaken by a nonprofit entity<\/span> to dispose of control of all or substantially all of its assets pursuant to an agreement of sale, transfer, lease, exchange, option, joint venture, or partnership, or to convert to a for-profit entity or to otherwise restructure the nonprofit entity<\/span> or its assets, resulting in a change in control or governance of the entity or assets.\n\t\t“Nonprofit entity<\/span>” means (i) a foreign or domestic nonstock corporation licensed and subject to regulation under Chapter 42 (\u00a7 38.2-4200<\/a> et seq.) of Title 38.2 or (ii) a person<\/span> that is exempt from taxation under 26 U.S.C. \u00a7 501(c)(3) or (4) and is, or owns, one of the following: (a) a hospital licensed under Chapter 5 (\u00a7 32.1-123<\/a> et seq.) of this title or Article 2 (\u00a7 37.2-403<\/a> et seq.) of Chapter 4 of Title 37.2; (b) a health maintenance organization licensed under Chapter 43 (\u00a7 38.2-4300<\/a> et seq.) of Title 38.2; (c) a nursing home, including a facility known by varying nomenclature or designation such as convalescent home, skilled nursing facility or skilled care facility, intermediate care facility, extended care facility, or certified nursing facility or nursing care facility, licensed under the provisions of Article 1 (\u00a7 32.1-123<\/a> et seq.) of Chapter 5; or (d) a facility for the provision of continuing care registered with the State Corporation Commission pursuant to Chapter 49 (\u00a7 38.2-4900<\/a> et seq.) of Title 38.2.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 32.1-373)\n\nAs used in this chapter, unless the context requires a different meaning:\n\t\t“Disposition of assets” means any action undertaken by a nonprofit\nentity to dispose of control of all or substantially all of its assets pursuant\nto an agreement of sale, transfer, lease, exchange, option, joint venture, or\npartnership, or to convert to a for-profit entity or to otherwise restructure\nthe nonprofit entity or its assets, resulting in a change in control or\ngovernance of the entity or assets.\n\t\t“Nonprofit entity” means (i) a foreign or domestic nonstock\ncorporation licensed and subject to regulation under Chapter 42 (\u00a7 38.2-4200 et\nseq.) of Title 38.2 or (ii) a person that is exempt from taxation under 26\nU.S.C. \u00a7 501(c)(3) or (4) and is, or owns, one of the following: (a) a hospital\nlicensed under Chapter 5 (\u00a7 32.1-123 et seq.) of this title or Article 2 (\u00a7\n37.2-403 et seq.) of Chapter 4 of Title 37.2; (b) a health maintenance\norganization licensed under Chapter 43 (\u00a7 38.2-4300 et seq.) of Title 38.2; (c)\na nursing home, including a facility known by varying nomenclature or\ndesignation such as convalescent home, skilled nursing facility or skilled care\nfacility, intermediate care facility, extended care facility, or certified\nnursing facility or nursing care facility, licensed under the provisions of\nArticle 1 (\u00a7 32.1-123 et seq.) of Chapter 5; or (d) a facility for the\nprovision of continuing care registered with the State Corporation Commission\npursuant to Chapter 49 (\u00a7 38.2-4900 et seq.) of Title 38.2.\n\nHISTORY: 1997, c. 615, \u00a7 55-531; 2000, c. 266; 2002, c. 516; 2005, c. 839;\n2019, c. 712.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}