Section 80. Commercial diversification survey

Each hospital or any corporation that controls a hospital shall respond to a survey conducted by the board to determine the extent of commercial diversification by such hospitals in the Commonwealth. The survey shall be in a form and manner prescribed by the board and shall request the information specified in subdivisions a through j below for each affiliate of such hospital or corporation, if any:

a. The name and principal activity;

b. The date of the affiliation;

c. The nature of the affiliation;

d. The method by which each affiliate was acquired or created;

e. The tax status of each affiliate and, if tax-exempt, its Internal Revenue tax exemption code number;

f. The total assets;

g. The total revenues;

h. The net profit after taxes, or if not-for-profit, its excess revenues;

i. The net equity or, if not-for-profit, its fund balance; and

j. Information regarding related party transactions.

Historical Notes

Derived from VR370-01-001 § 4.6, eff. February 25, 1987; amended, Volume 05, Issue 12, eff. April 12, 1989; Volume 06, Issue 15, eff. July 1, 1990; Volume 07, Issue 10, eff. April 1, 1990; Volume 08, Issue 01, eff. January 1, 1992; Volume 08, Issue 13, eff. January 1, 1992; Volume 08, Issue 17, eff. July 1, 1992; Volume 08, Issue 21, eff. September 1, 1992; Volume 08, Issue 26, eff. November 1, 1992; Volume 09, Issue 12, eff. April 7, 1993; Volume 10, Issue 15, eff. June 1, 1994; renumbered and amended, Virginia Register Volume 13, Issue 04, eff. December 11, 1996.

Statutory Authority

§§ 32.1-12 and 32.1-276.2 et seq. of the Code of Virginia.