MORATORIUM ON CONVERSION TRANSACTIONS.

(a) Notwithstanding Laws 2017, chapter 2, article 2, a nonprofit health service plan corporation operating under Minnesota Statutes, chapter 62C, or new text begin a nonprofit new text end health maintenance organization operating under Minnesota Statutes, chapter 62D, as of January 1, 2017, may only merge or consolidate with; deleted text begin or deleted text end convert deleted text begin , deleted text end new text begin ; new text end or transfer new text begin , as part of a single transaction or a series of transactions within a 24-month period, new text end all or a deleted text begin substantial portion deleted text end new text begin material amount new text end of its assets to an entity that is a corporation organized under Minnesota Statutes, chapter 317A new text begin ; or to a Minnesota nonprofit hospital within the same integrated health system as the health maintenance organization new text end . new text begin For purposes of this section, "material amount" means the lesser of ten percent of such an entity's total admitted net assets as of December 31 of the previous year, or $50,000,000. new text end