Texas Insurance Code 842.151 – Board of Directors
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(a) Each group hospital service corporation is governed by a board of directors that has full control over its management affairs.
(b) A board of directors must be composed of at least 12 but not more than 20 directors. A majority of the directors must be persons who:
(1) are not health care providers or employees of health care providers; and
(2) do not have a financial interest in a health care provider.
Terms Used In Texas Insurance Code 842.151
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.