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Tex. Insurance Code § 842.051

APPLICATION FOR CORPORATE CHARTER; NONPROFIT STATUS REQUIRED

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 842.051, APPLICATION FOR CORPORATE CHARTER; NONPROFIT STATUS REQUIRED, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679366
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(a) Seven or more persons, a majority of whom are superintendents of hospitals or physicians licensed by the Texas State Board of Medical Examiners, may apply to the secretary of state for a corporate charter to operate a group hospital service corporation. (b) A group hospital service corporation must be governed and operated as a nonprofit organization.