Assembly Bill A9042

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9042
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             September 5, 2025
                                ___________
 
 Introduced  by  M.  of  A.  ROSENTHAL  --  read once and referred to the
   Committee on Agriculture
 
 AN ACT to amend the agriculture and markets law, in relation to  requir-
   ing  veterinary clinics to file notice and documentation to the attor-
   ney general before completing certain transactions

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The agriculture and markets law is amended by adding a new
 article 26-D to read as follows:
                                ARTICLE 26-D
           DISCLOSURE OF MATERIAL CHANGES TO VETERINARY CLINICS
 SECTION 440. DEFINITIONS.
         441. DISCLOSURE OF MATERIAL CHANGES.
         442. NOTICE OF MATERIAL CHANGES; REQUIREMENTS.
         443. ACQUISITIONS  OF  VETERINARY  CLINICS  AGAINST  THE  PUBLIC
                INTEREST PROHIBITED; DETERMINATION.
   § 440. DEFINITIONS.  FOR  THE  PURPOSES OF THIS ARTICLE, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   1. "VETERINARY CLINIC" OR ANY OTHER TERM USED INTERCHANGEABLY IN  THIS
 ARTICLE,  INCLUDING BUT NOT LIMITED TO "ORGANIZATION" (REGARDLESS OF ITS
 ORGANIZATIONAL STRUCTURE), "CLINIC", "PROVIDER", "PRACTICE", "VETERINARY
 PROVIDER", AND "VETERINARY PRACTICE", MEANS A HEALTH CARE ENTITY INVOLV-
 ING THE PRACTICE OF VETERINARY MEDICINE, AS DEFINED  BY  SECTION  SIXTY-
 SEVEN  HUNDRED  ONE  OF  THE  EDUCATION  LAW, INCLUDING SMALL PRACTICES,
 GROUPS, OR MANAGEMENT SERVICES ORGANIZATIONS OR SIMILAR ENTITIES PROVID-
 ING ALL  OR  SUBSTANTIALLY  ALL  OF  THE  ADMINISTRATIVE  OR  MANAGEMENT
 SERVICES  UNDER  CONTRACT  WITH  ONE OR MORE VETERINARY OR MEDICAL PRAC-
 TICES.   FOR THE PURPOSES OF THIS  SECTION,  "VETERINARY  CLINIC"  SHALL
 INCLUDE  PROFESSIONAL SERVICES CORPORATIONS INCORPORATED FOR THE PURPOSE
 OF PRACTICING VETERINARY MEDICINE OR OVERSEEING THE OPERATIONS THEREOF.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11436-03-5
 A. 9042                             2
              

 
   2. "AGAINST THE PUBLIC INTEREST" MEANS AN ACTION WHERE THE EFFECT OF A
 TRANSACTION INCLUDES, AS DETERMINED BY THE ATTORNEY GENERAL, ANY OF  THE
 FOLLOWING IMPACTS:
   (A)  REDUCED COMPETITION OR INCREASED COSTS FOR VETERINARY CARE TO PET
 OWNERS;
   (B) UNFAIR METHODS OF COMPETITION OR DECEPTIVE ACTS OR PRACTICES IN OR
 AFFECTING VETERINARY CARE COMMERCE;
   (C) REDUCED QUALITY OF CARE INCLUDING, BUT NOT LIMITED TO, CARE  WHICH
 IS  NOT  THE STANDARD OF CARE OR CARE WHICH IS NOT IN THE BEST INTERESTS
 OF SUCH PROVIDER'S PATIENTS;
   (D) REDUCED ACCESS TO OR  AVAILABILITY  OF  VETERINARY  CARE  FOR  PET
 OWNERS; OR
   (E)  REDUCED  ACCESS  TO  CARE IN A RURAL, LOW-INCOME OR DISADVANTAGED
 COMMUNITY.
   3. "MATERIAL AMOUNT" MEANS AN AMOUNT EQUAL  TO  TWO  HUNDRED  THOUSAND
 DOLLARS OR MORE.
   4. "MATERIAL CHANGE" MEANS ANY OF THE FOLLOWING:
   (A)  THE  SALE,  TRANSFER,  LEASE,  OR OTHER ENCUMBRANCE OF A MATERIAL
 AMOUNT OF A VETERINARY CLINIC'S ASSETS  OR  OPERATIONS,  INCLUDING  REAL
 PROPERTY, EMPLOYMENT GROUPS, EMERGENCY ROOMS, OR OTHER CLINIC UNITS;
   (B) A MERGER, AN ACQUISITION, OR A CONTRACTING AFFILIATION WITH ANOTH-
 ER VET CLINIC OR PROVIDER ORGANIZATION; OR
   (C)  A CAPITAL DISTRIBUTION OR SIMILAR REDUCTION OF A VETERINARY CLIN-
 IC'S EQUITY CAPITAL BY A MATERIAL AMOUNT OR THE INCURSION  OF  AN  OBLI-
 GATION THAT COMMITS THE VETERINARY CLINIC TO MAKE A CAPITAL DISTRIBUTION
 OR SIMILAR REDUCTION OF EQUITY BY A MATERIAL AMOUNT.
   5.  "MERGER"  MEANS  A  CONSOLIDATION  OF  TWO  OR MORE ORGANIZATIONS,
 INCLUDING TWO OR MORE ORGANIZATIONS  JOINING  THROUGH  A  COMMON  PARENT
 ORGANIZATION, OR TWO OR MORE ORGANIZATIONS FORMING A NEW ORGANIZATION.
   6. "CONTROL" MEANS THE POSSESSION, DIRECT OR INDIRECT, OF THE POWER TO
 DIRECT  OR  CAUSE  THE DIRECTION OF THE MANAGEMENT, ADMINISTRATIVE FUNC-
 TIONS, AND POLICIES OF A VETERINARY CLINIC, WHETHER THROUGH  THE  OWNER-
 SHIP  OF  VOTING SECURITIES OR RIGHTS, EITHER DIRECTLY OR INDIRECTLY, BY
 CONTRACT ALONE OR AS PART OF A SERIES OF TRANSACTIONS (EXCEPT A  COMMER-
 CIAL CONTRACT FOR GOODS OR NON-MANAGEMENT SERVICES) OR OTHERWISE; BUT NO
 ENTITY  SHALL  BE  DEEMED  TO CONTROL ANOTHER ENTITY SOLELY BY REASON OF
 BEING AN OFFICER OR DIRECTOR OF A HEALTH CARE ENTITY. CONTROL  SHALL  BE
 PRESUMED  TO  EXIST IF ANY PERSON OR ENTITY DIRECTLY OR INDIRECTLY OWNS,
 CONTROLS, OR HOLDS WITH THE POWER TO VOTE FIVE PERCENT OR  MORE  OF  THE
 VOTING SECURITIES OF A VETERINARY CLINIC.
   7.  "ACQUISITION"  MEANS  AN  AGREEMENT,  ARRANGEMENT, OR ACTIVITY THE
 CONSUMMATION OF WHICH RESULTS IN A PERSON OR ENTITY ACQUIRING DIRECT  OR
 INDIRECT  CONTROL  OF  ANOTHER  PERSON  OR ENTITY. THE TERM INCLUDES THE
 ACQUISITION OF VOTING SECURITIES AND NONCORPORATE  INTERESTS,  INCLUDING
 ASSETS, CAPITAL STOCK OR MEMBERSHIP INTERESTS OR EQUITY INTERESTS.
   8.  "CONTRACTING  AFFILIATION"  MEANS  THE FORMATION OF A RELATIONSHIP
 BETWEEN TWO OR MORE ENTITIES THAT  PERMITS  THE  ENTITIES  TO  NEGOTIATE
 JOINTLY  WITH  CARRIERS  OR  THIRD-PARTY  ADMINISTRATORS  OVER RATES FOR
 PROFESSIONAL MEDICAL SERVICES OR ONE ENTITY TO NEGOTIATE  ON  BEHALF  OF
 THE  OTHER ENTITY WITH CARRIERS OR THIRD-PARTY ADMINISTRATORS OVER RATES
 FOR PROFESSIONAL MEDICAL SERVICES.
   9. "CAPITAL DISTRIBUTION" MEANS A PAYMENT MADE, LIABILITY INCURRED, OR
 OTHER CONSIDERATION GIVEN TO A PERSON OR ENTITY FOR THE PURCHASE, ACQUI-
 SITION, REDEMPTION, REPURCHASE, PAYMENT OR RETIREMENT OF  CAPITAL  STOCK
 OR  OTHER  EQUITY INTEREST OR AS A DIVIDEND, RETURN OF CAPITAL, OR OTHER
 DISTRIBUTION WITH RESPECT TO THE CAPITAL STOCK OR OTHER EQUITY INTEREST.
 A. 9042                             3
 
   § 441. DISCLOSURE OF MATERIAL CHANGES. PURSUANT TO THIS  ARTICLE,  THE
 DEPARTMENT SHALL ADOPT A PROCESS FOR THE DISCLOSURE AND NOTICE OF TRANS-
 ACTIONS  INVOLVING  MATERIAL  CHANGES. THE ITEMS DISCLOSED SHALL INCLUDE
 THE FACTORS LISTED IN SECTION FOUR HUNDRED FORTY-TWO  OF  THIS  ARTICLE.
 NOTHING  IN  THIS  ARTICLE  SHALL LIMIT OR RESTRICT THE AUTHORITY OF THE
 SUPERINTENDENT OF FINANCIAL SERVICES  UNDER  ARTICLE  FIFTEEN,  SIXTEEN,
 SEVENTEEN,  FORTY-TWO, FORTY-THREE, SEVENTY-ONE, OR SEVENTY-THREE OF THE
 INSURANCE LAW, OR REGULATIONS PROMULGATED THEREUNDER.
   § 442. NOTICE OF MATERIAL CHANGES; REQUIREMENTS. 1. AN ACQUIRING ENTI-
 TY SHALL SUBMIT TO THE DEPARTMENT  WRITTEN  NOTICE  OF  ANY  TRANSACTION
 INVOLVING  A MATERIAL CHANGE, WITH SUPPORTING DOCUMENTATION AS DESCRIBED
 IN THIS SUBDIVISION AND FURTHER DEFINED IN REGULATIONS DEVELOPED BY  THE
 DEPARTMENT,  NO LATER THAN FOURTEEN DAYS AFTER SUCH TRANSACTION HAS BEEN
 AGREED TO AND PRIOR TO THE CONSUMMATION OF ALL OR ANY  PORTION  OF  SUCH
 TRANSACTION, IN THE FORM AND MANNER PRESCRIBED BY THE DEPARTMENT.  IMME-
 DIATELY  UPON  THE  SUBMISSION  TO  THE DEPARTMENT, THE DEPARTMENT SHALL
 SUBMIT ELECTRONIC COPIES OF SUCH NOTICE WITH SUPPORTING DOCUMENTATION TO
 THE ANTITRUST, HEALTH CARE AND CHARITIES BUREAUS OF THE  OFFICE  OF  THE
 NEW  YORK  ATTORNEY GENERAL FOR THE PURPOSES OF DETERMINING WHETHER SUCH
 MATERIAL CHANGE IS AGAINST THE PUBLIC INTEREST PURSUANT TO SECTION  FOUR
 HUNDRED  FORTY-THREE OF THIS ARTICLE. SUCH WRITTEN NOTICE SHALL INCLUDE,
 BUT NOT BE LIMITED TO:
   (A)  ALL  ORGANIC  DOCUMENTS,  INCLUDING  ARTICLES  OF  INCORPORATION,
 BYLAWS,  SHAREHOLDER  OR  OTHER VOTING AGREEMENTS, OPERATING AGREEMENTS,
 AND OTHER DOCUMENTS RELATED TO GOVERNANCE AND OWNERSHIP OF EACH PARTY;
   (B) ALL COMPLETE TRANSACTION  DOCUMENTS  WITH  ATTACHMENTS,  INCLUDING
 COLLATERAL  OR  ANCILLARY  AGREEMENTS  INVOLVING OFFICERS, DIRECTORS, OR
 EMPLOYEES;
   (C) ALL DOCUMENTS SIGNED BY THE PRINCIPALS, OR THEIR AGENTS, THAT  ARE
 NECESSARY  TO  DETERMINE  THE  PROPOSED TRANSACTION'S EFFECT, IF ANY, ON
 RELATED OR  SUBSIDIARY  BUSINESS  ENTITIES,  WHETHER  NONPROFIT  OR  FOR
 PROFIT;
   (D) ANY OF THE FOLLOWING THAT COMPRISE PART OR ALL OF THE TRANSACTION:
   (I) ASSET CONTRIBUTION AGREEMENTS;
   (II) OPERATING AGREEMENTS OR MANAGEMENT CONTRACTS;
   (III)  ALL INFORMATION NECESSARY TO EVALUATE THE EFFECTS OF THE TRANS-
 ACTION ON EACH COMPONENT OF AN INTEGRATED  DELIVERY  SYSTEM  WHERE  THAT
 TRANSACTION  INVOLVES  A  VETERINARY  HOSPITAL, INCLUDING ANY CHANGES IN
 CONTRACTS BETWEEN THE INTEGRATED DELIVERY SYSTEM  ENTITIES  AND  RELATED
 VETERINARY GROUPS;
   (IV)  ALL  FINANCIAL  DOCUMENTS OF THE TRANSACTION PARTIES AND RELATED
 ENTITIES, WHERE  APPLICABLE,  INCLUDING  AUDITED  FINANCIAL  STATEMENTS,
 OWNERSHIP RECORDS, BUSINESS PROJECTION DATA, CURRENT CAPITAL ASSET VALU-
 ATION  DATA  AND  ANY RECORDS UPON WHICH FUTURE EARNINGS, EXISTING ASSET
 VALUES AND FAIR MARKET VALUE ANALYSIS CAN BE BASED;
   (V) ALL FAIRNESS OPINIONS AND INDEPENDENT  VALUATION  REPORTS  OF  THE
 ASSETS  AND  LIABILITIES OF THE PARTIES, PREPARED BY OR ON BEHALF OF THE
 PARTIES;
   (VI) ALL RELEVANT CONTRACTS THAT MAY AFFECT VALUE, INCLUDING, BUT  NOT
 LIMITED TO, BUSINESS AND EMPLOYEE CONTRACTS, SUCH AS BUY-OUT PROVISIONS,
 PROFIT SHARING AGREEMENTS, AND SEVERANCE PACKAGES;
   (VII)  ALL  INFORMATION  AND  REPRESENTATIONS DISCLOSING RELATED PARTY
 TRANSACTIONS THAT ARE NECESSARY TO ASSESS WHETHER THE TRANSACTION IS  AT
 ARM'S LENGTH OR INVOLVES SELF-DEALING;
   (VIII)  ALL DOCUMENTS RELATING TO NONCASH ELEMENTS OF THE TRANSACTION,
 INCLUDING, BUT NOT LIMITED TO,  PERTINENT  VALUATIONS  OF  SECURITY  FOR
 A. 9042                             4
 
 LOANS  AND STOCK RESTRICTIONS OR PARTNER INTEREST OR MEMBERSHIP INTEREST
 RESTRICTIONS;
   (IX)  ALL  TAX-RELATED INFORMATION, INCLUDING, BUT NOT LIMITED TO, THE
 EXISTENCE OF TAX-FREE DEBT SUBJECT TO REDEMPTION AND DISQUALIFIED PERSON
 TRANSACTIONS YIELDING TAX LIABILITY;
   (X) A LIST OF  ONGOING  LITIGATION,  INCLUDING  FULL  COURT  CAPTIONS,
 INVOLVING  THE  TRANSACTION PARTIES OR THEIR RELATED ENTITIES, WHICH MAY
 AFFECT THE INTERESTS OF THE PARTIES;
   (XI) ALL INFORMATION IN THE  POSSESSION  OF  THE  TRANSACTING  PARTIES
 RELATIVE  TO THE PERSPECTIVE OF THE VET CLINIC'S PATIENT BASE AND COMMU-
 NITIES SERVED, OR THEIR REPRESENTATIVES;
   (XII) ALL INFORMATION, INCLUDING INTERNAL  AND  EXTERNAL  REPORTS  AND
 STUDIES, BEARING ON THE EFFECT OF THE PROPOSED TRANSACTION ON THE AVAIL-
 ABILITY OR ACCESSIBILITY OF HEALTH CARE IN THE AFFECTED COMMUNITY;
   (XIII)  ORGANIZATIONAL  CHARTS  OF  THE PARTIES TO THE TRANSACTION, AS
 THEY EXIST BOTH PRE-CONSUMMATION AND  POST-CONSUMMATION  OF  THE  TRANS-
 ACTION,  DETAILING  THE  RELATIONSHIP  BETWEEN  THE  PRINCIPAL  PARTIES,
 INCLUDING ANY AND ALL SUBSIDIARIES AND RELATED PARTIES; AND
   (XIV) ALL ADDITIONAL DOCUMENTS THAT THE ATTORNEY GENERAL DEEMS  NECES-
 SARY OR APPROPRIATE FOR REVIEW PURPOSES;
   (E)  A  STATEMENT  AS  TO  WHETHER  ANY PARTY TO THE TRANSACTION, OR A
 CONTROLLING PERSON OR PARENT COMPANY  OF  SUCH  PARTY,  OWNS  ANY  OTHER
 HEALTH  CARE  ENTITY  WHICH,  IN  THE PAST THREE YEARS, HAS CLOSED OPER-
 ATIONS, IS IN THE PROCESS OF CLOSING OPERATIONS, OR  HAS  EXPERIENCED  A
 SUBSTANTIAL  REDUCTION  IN  SERVICES PROVIDED. THE PARTIES SHALL SPECIF-
 ICALLY IDENTIFY THE HEALTH CARE  ENTITY  OR  ENTITIES  SUBJECT  TO  SUCH
 CLOSURE OR SUBSTANTIAL SERVICE REDUCTION AND DETAIL THE CIRCUMSTANCES OF
 SUCH; AND
   (F)  A  STATEMENT AS TO WHETHER A SALE-LEASEBACK AGREEMENT OR MORTGAGE
 OR LEASE PAYMENTS OR OTHER PAYMENTS ASSOCIATED WITH REAL  ESTATE  ARE  A
 COMPONENT  OF  THE  PROPOSED  TRANSACTION  AND  IF SO, THE PARTIES SHALL
 PROVIDE THE PROPOSED SALE-LEASEBACK AGREEMENT  OR  MORTGAGE,  LEASE,  OR
 REAL ESTATE DOCUMENTS WITH THE NOTICE.
   2.  (A)  EXCEPT  AS  PROVIDED  IN  PARAGRAPH  (B) OF THIS SUBDIVISION,
 SUPPORTING DOCUMENTATION AS DESCRIBED IN SUBDIVISION ONE OF THIS SECTION
 SHALL NOT BE SUBJECT TO DISCLOSURE UNDER ARTICLE SIX OF THE PUBLIC OFFI-
 CERS LAW.
   (B) AFTER SUBMISSION TO THE DEPARTMENT OF WRITTEN NOTICE OF  A  TRANS-
 ACTION  INVOLVING  A MATERIAL CHANGE PURSUANT TO SUBDIVISION ONE OF THIS
 SECTION, THE DEPARTMENT SHALL POST ON ITS WEBSITE:
   (I) A SUMMARY OF THE PROPOSED TRANSACTION;
   (II) AN EXPLANATION OF THE GROUPS OR INDIVIDUALS LIKELY TO BE IMPACTED
 BY THE TRANSACTION;
   (III) INFORMATION ABOUT SERVICES CURRENTLY PROVIDED BY THE  VETERINARY
 CLINIC,  COMMITMENTS BY THE VETERINARY CLINIC TO CONTINUE SUCH SERVICES,
 AND ANY SERVICES THAT WILL BE REDUCED OR ELIMINATED; AND
   (IV) DETAILS ABOUT HOW TO SUBMIT COMMENTS, IN A FORMAT THAT IS EASY TO
 FIND AND EASY TO READ.
   3. AN ACQUIRING ENTITY THAT IS A PARTY TO A  TRANSACTION  INVOLVING  A
 MATERIAL CHANGE SHALL NOTIFY THE DEPARTMENT UPON COMPLETION OF THE TRAN-
 SACTION IN THE FORM AND MANNER PRESCRIBED BY THE DEPARTMENT.
   4.  FAILURE  TO  NOTIFY THE DEPARTMENT OF A MATERIAL CHANGE UNDER THIS
 SECTION SHALL BE SUBJECT TO CIVIL PENALTIES UNDER SECTION TWELVE OF  THE
 PUBLIC  HEALTH  LAW.  EACH  DAY  IN  WHICH THE VIOLATION CONTINUES SHALL
 CONSTITUTE A SEPARATE VIOLATION.
 A. 9042                             5
 
   § 443. ACQUISITIONS OF VETERINARY CLINICS AGAINST THE PUBLIC  INTEREST
 PROHIBITED; DETERMINATION. 1. (A) EXCEPT AS PROVIDED UNDER PARAGRAPH (B)
 OF  THIS  SUBDIVISION,  NO PERSON OR ENTITY SHALL SELL, TRANSFER, LEASE,
 EXCHANGE, OPTION OR OTHERWISE ENCUMBER A MATERIAL AMOUNT OF A VETERINARY
 CLINIC'S  ASSETS  OR  OPERATIONS  IN A MANNER THAT IS AGAINST THE PUBLIC
 INTEREST.
   (B) AN ACTION PROHIBITED UNDER SUBDIVISION ONE OF THIS SECTION MAY  BE
 PERMITTED  WHEN,  AS  DETERMINED  BY  THE  ATTORNEY GENERAL, THERE IS NO
 FEASIBLE ALTERNATIVE TO PREVENT A VETERINARY CLINIC'S CLOSURE OR GREATER
 LOSS OF HEALTH SERVICES.
   2. (A) WITHIN NINETY DAYS AFTER  THE  ATTORNEY  GENERAL  HAS  RECEIVED
 WRITTEN  NOTICE  PURSUANT  TO  SUBDIVISION  ONE  OF SECTION FOUR HUNDRED
 FORTY-TWO OF THIS ARTICLE, THE  ATTORNEY  GENERAL  SHALL  DETERMINE  AND
 NOTIFY AFFECTED PARTIES WHETHER THE PROPOSED AGREEMENT OR TRANSACTION IS
 AGAINST THE PUBLIC INTEREST.
   (B)  IF THE ATTORNEY GENERAL DETERMINES THAT THE PROPOSED AGREEMENT OR
 TRANSACTION IS AGAINST THE PUBLIC INTEREST PURSUANT TO PARAGRAPH (A)  OF
 THIS SUBDIVISION, THE ATTORNEY GENERAL MAY COMMENCE AN ACTION IN A COURT
 OF  COMPETENT JURISDICTION TO ENJOIN THE AGREEMENT OR TRANSACTION IF THE
 PARTIES DO NOT VOLUNTARILY TERMINATE THE AGREEMENT OR TRANSACTION.
   (C) IN THE EVENT THAT THE ATTORNEY GENERAL DOES NOT MAKE ANY  DETERMI-
 NATION  PURSUANT  TO THIS SUBDIVISION WITHIN NINETY DAYS, OR NINETY DAYS
 PLUS ANY TIME SUCH PERIOD IS PAUSED PURSUANT  TO  SUBDIVISION  THREE  OF
 THIS  SECTION,  THE  PARTIES MAY PROCEED WITH THE TRANSACTION; PROVIDED,
 HOWEVER, THAT THE LACK OF DETERMINATION SHALL NOT BE  CONSTRUED  AS  ANY
 RULING OR DETERMINATION IF SUCH SALE GOES AGAINST THE PUBLIC INTEREST.
   3.  THE  ATTORNEY  GENERAL, DURING THE NINETY-DAY DETERMINATION PERIOD
 SET FORTH IN SUBDIVISION TWO OF THIS SECTION, MAY REQUIRE THE SUBMISSION
 OF  ADDITIONAL  INFORMATION  OR  DOCUMENTARY  MATERIAL  FROM  AN  ENTITY
 REQUIRED  TO  FILE NOTIFICATION UNDER THIS ARTICLE, OR FROM ANY OFFICER,
 DIRECTOR, PARTNER, AGENT OR EMPLOYEE OF SUCH  ENTITY,  AS  THE  ATTORNEY
 GENERAL  DEEMS  NECESSARY.  IN  THE  EVENT  ADDITIONAL  DOCUMENTATION IS
 REQUESTED, THE NINETY-DAY PERIOD FOR THE ATTORNEY GENERAL TO MAKE  THEIR
 DETERMINATION  SHALL  BE  PAUSED  AND SHALL RE-COMMENCE AFTER RECEIPT OF
 SUCH REQUESTED ADDITIONAL INFORMATION OR DOCUMENTARY MATERIAL.
   4. THE ATTORNEY GENERAL MAY CONDUCT ONE OR MORE PUBLIC HEARINGS ON THE
 PROPOSED AGREEMENT OR TRANSACTION, AS NECESSARY, TO MAKE A DETERMINATION
 PURSUANT TO THIS SECTION.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law. Effective immediately, the addition, amendment and/or
 repeal  of  any  rule  or regulation necessary for the implementation of
 this act on its effective date are authorized to be made  and  completed
 on or before such effective date.