Group Practice Unit or Organization [Banks & Banking] Law and Legal Definition

Pursuant to 12 USCS § 1749aaa-5 (4) [Title 12. Banks and Banking; Chapter 13. National Housing Mortgage Insurance for Group Practice Facilities and Medical Practice Facilities], the term group practice unit or organization means--

“(A) a private nonprofit agency or organization undertaking to provide, directly or through arrangements with a medical or dental group, comprehensive medical care, osteopathic care, optometric care, dental care, or podiatric care, or any combination thereof, which may include hospitalization, to members or subscribers primarily on a group practice prepayments basis; or

(B) a private nonprofit agency or organization established for the purpose of improving the availability of medical, osteopathic, optometric, dental or podiatric care in the community or having some function or functions related to the provision of such care, which will, through lease or other arrangement, make the group practice facility with respect to which assistance has been requested under this title [12 USCS §§ 1749aaa et seq.] available to a medical or dental group for use by it.”