News by sections

News by region
Issue archives
Archive section
Emerging talent
Emerging talent profiles
Domicile guidebook
Guidebook online
Search site
Features
Interviews
Domicile profiles
Generic business image for news article Image: Shutterstock

12 September 2019
Georgia
Reporter Maria Ward-Brennan

Share this article





Georgia nonprofit hospitals face new transparency rules, includes captives

Nonprofit hospitals in Georgia are set to face new financial transparency rules, under a law that came into effect on 25 April this year.

The new rules will mean nonprofit hospitals in Georgia that have ownership or interest in any joint venture, partnership, subsidiary, holding company or captive insurance company, and related financial information will be required to report data.

In addition, the will also be required to report other information such as financial information about a hospital’s affiliates and subsidiaries; all property holdings of the hospital; audited financial information; any bonded indebtedness; salaries and fringe benefits for the 10 highest-paid administrative positions in the hospital.

Earlier this year, Georgia also passed legislation that amends the state’s captive insurance statue and authorised the use of protected cell companies.

Subscribe advert
Advertisement
Get in touch
News
More sections
Black Knight Media