(9) The conversion plan complies with all applicable law.

Sec. 15. 24 MRSA §2301, sub-§9-D, ¶G, as enacted by PL 1997, c. 344, §4, is repealed.

Sec. 16. 24 MRSA §2301, sub-§9-D, ¶I, as enacted by PL 1997, c. 344, §4, is amended by amending subparagraph (1) to read:

(1) The appraisal must enable determinations of value for purposes of: the amount of cash or other assets that the charitable trust will be entitled to receive, without consideration, under the provisions of the conversion plan required by paragraph E, subparagraph (3).

(a) The amount of cash or other assets that subscribers or the charitable trust will be entitled to receive, without consideration, under the provisions of the conversion plan required by paragraph E, subparagraphs (3) and (4); and

(b) The price of any shares to be issued pursuant to the optional provisions of a conversion plan permitted by paragraph G.

Sec. 17. 24 MRSA §2308-A, sub-§1, ¶C, as enacted by PL 1997, c. 344, §5, is amended to read:

C. "Nonprofit hospital and medical service organization" or "organization" means a corporation or other entity authorized by the superintendent and organized pursuant to this chapter for the purpose of providing nonprofit hospital service plans within the meaning of section 2301, subsection 1 and, nonprofit medical service plans within the meaning of section 2301, subsection 2. It does not include and any organization that provides only nonprofit health care plans within the meaning of section 2301, subsection 3 or a health insurance affiliate.