Hospital bankruptcy proceedings.

This act allows county memorial hospitals and hospital districts to file for bankruptcy under Chapter 9 of the United States Bankruptcy Code, subject to specified requirements. A bankruptcy petition for a county memorial hospital must be approved by the applicable board of county commissioners. If approved, the board of trustees for a county memorial hospital may move forward with the petition. Hospital districts may apply for bankruptcy without a vote of qualified electors, but the trustees of the hospital district must advertise the motion to file for bankruptcy. If the trustees decide to file for bankruptcy, the trustees must take all action necessary under Chapter 9 of the United States Bankruptcy Code.