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  • Title: Directors' duty to obtain a fair price in the conversion of nonprofit hospitals.
    Author: Tower ES.
    Journal: Ann Health Law; 1997; 6():157-84. PubMed ID: 10173278.
    Abstract:
    Boards of Directors of tax-exempt hospitals are increasingly struggling with whether to convert their facilities to for-profit status. Other than the traditional duties of loyalty and fair dealings imposed upon directors, there is currently little guidance to assure that boards obtain a fair price for the hospital in such conversions. The author provides recommendations to assure proper valuation.
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