                                 CODE OF VIRGINIA

DEFINITIONS (§ 32.1-373)

As used in this chapter, unless the context requires a different meaning:
		&#8220;Disposition of assets&#8221; 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.
		&#8220;Nonprofit entity&#8221; means (i) a foreign or domestic nonstock
corporation licensed and subject to regulation under Chapter 42 (§ 38.2-4200 et
seq.) of Title 38.2 or (ii) a person that is exempt from taxation under 26
U.S.C. § 501(c)(3) or (4) and is, or owns, one of the following: (a) a hospital
licensed under Chapter 5 (§ 32.1-123 et seq.) of this title or Article 2 (§
37.2-403 et seq.) of Chapter 4 of Title 37.2; (b) a health maintenance
organization licensed under Chapter 43 (§ 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 (§ 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 (§ 38.2-4900 et seq.) of Title 38.2.

HISTORY: 1997, c. 615, § 55-531; 2000, c. 266; 2002, c. 516; 2005, c. 839;
2019, c. 712.