Texas Local Government Code 501.067 – Insurance and Benefits
Current as of: 2024 | Check for updates
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(a) Notwithstanding any law to the contrary and with the consent of the corporation‘s authorizing unit, a corporation may obtain:
(1) health benefits coverage, liability coverage, workers’ compensation coverage, and property coverage under the authorizing unit’s insurance policies, through self-funded coverage, or under coverage provided under an interlocal agreement with a political subdivision; or
(2) retirement benefits under a retirement program the authorizing unit participates in or operates.
(b) Health benefits coverage may be extended to the corporation’s directors and employees, and to the dependents of the directors and employees.
Terms Used In Texas Local Government Code 501.067
- 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.
- Property: means real and personal property. See Texas Government Code 311.005
(c) Workers’ compensation benefits may be extended to the corporation’s directors, employees, and volunteers.
(d) Liability coverage may be extended to protect the corporation and the corporation’s directors and employees.
(e) Retirement benefits may be extended to the corporation’s employees.