Texas Insurance Code 842.152 – Compensation of Directors
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Terms Used In Texas Insurance Code 842.152
- 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.
A director of a group hospital service corporation may not receive compensation for the director’s services but is entitled to receive reimbursement for reasonable and necessary expenses incurred in attending a meeting called to manage or direct the affairs of the corporation.