ARM 37.106.812. JOINT VENTURE RELATIONSHIP REQUIREMENTS

(1) Each specialty hospital must have a joint venture relationship with a hospital or a signed statement from a nonprofit hospital in the community acknowledging that the hospital declined a bona fide, good faith opportunity to participate in a joint venture with the specialty hospital applicant. (2) To qualify as a joint venture, the agreements must contain the following four elements: (a) an express agreement or contract creating and defining the joint venture; (b) a common purpose among the parties; (c) community of interest; and (d) equal right to control of the venture.