Plain English Breakdown
The official source does not provide specific details about what happens if fair market value is undecided after 30 business days or how existing agreements will be affected.
Changing Time Limits for Physician Non-Compete Agreements
This bill changes the time limit in non-compete agreements between doctors and their employers from ten business days to thirty business days.
What This Bill Does
- Changes the period of time that must be included in a non-compete agreement between an employer and a doctor from 10 business days to 30 business days.
Who It Names or Affects
- Doctors who have non-compete agreements with their employers.
- Employers who make non-compete agreements with doctors.
Terms To Know
- Non-compete agreement
- A contract that stops someone from working in a similar job or business for a certain time after leaving their current job.
Limits and Unknowns
- Does not specify what happens if the fair market value is still undecided after 30 business days.
- It's unclear how this change will affect existing non-compete agreements between doctors and employers.