Final answer:
The notification period required for a hospital board when stock ownership changes by 30% or more depends on the hospital's bylaws and relevant jurisdictional laws; no standard period applies. The correct option is C.
Step-by-step explanation:
The question seeks information on the period within which a hospital board must be notified before a substantial change in stock ownership occurs. The specific threshold mentioned is a change of more than or equal to 30%. While notification periods can vary by institution and regulation, there is not a one-size-fits-all answer as it depends on the hospital's bylaws, the jurisdictional laws, and the regulations governing such transactions.
Typically, a hospital's bylaws or relevant corporate governance documents would outline the specific notification requirements in such a scenario. Sometimes, transactions like this might also be regulated by state or local laws that mandate a certain notice period. To find the correct answer, one would need to refer to these documents or legal regulations applicable to the community hospital in question.
The relevant federal regulation in the United States that addresses the notification period for changing stock ownership in a community hospital is the Change of Ownership (CHOW) rule under the Centers for Medicare and Medicaid Services (CMS). According to the CHOW rule, the board must be notified 60 days prior to a community hospital stock ownership change by more than or equal to 30%. This notification period allows the board to review the proposed changes and ensures transparency in the ownership transfer process.