Terms Used In Montana Code 50-4-716

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• conversion transaction: means the sale, transfer, lease, exchange, transfer by exercise of an option, optioning, conveyance, merger, affiliation, mutualization, joint venture, or other disposition by a nonprofit health entity or another person or entity resulting in the transfer of control or governance to a person or entity other than the nonprofit health entity of the lesser of:

  (i)more than 10% in fair market value of the assets or operations of a nonprofit health entity; or

  (ii)assets of a nonprofit health entity amounting to a fair market value of $5 million or more. See Montana Code 50-4-701

• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fair market value: means the fair market value as of the date of the transaction or proposed transaction as determined by an independent appraisal of the assets or operations performed and communicated by a qualified appraiser according to applicable professional appraisal standards. See Montana Code 50-4-701
• Nonprofit health entity: means :

  (i)a nonprofit health maintenance organization; or

  (ii)a nonprofit health service corporation. See Montana Code 50-4-701

• Ordinary course of business: means with respect to a transaction or disposition that the transaction comports with the usual and customary practices of the kind of business in which the nonprofit health entity is engaged. See Montana Code 50-4-701
• Public assets: include :

  (a)assets held for the benefit of the public or the community;

  (b)assets in which the public has an ownership interest;

  (c)assets owned by a governmental entity; and

  (d)assets owned by a nonprofit corporation to the extent that the corporation holds assets in a charitable trust. See Montana Code 50-4-701