Vermont Statutes Title 8 Sec. 4511
Terms Used In Vermont Statutes Title 8 Sec. 4511
- Contract: A legal written agreement that becomes binding when signed.
- 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.
§ 4511. Purposes and definition
A corporation may be organized for the purpose of establishing, maintaining, and operating a nonprofit hospital service plan through which hospital care may be provided by a hospital maintained by a corporation organized for hospital purposes to members of the public who become subscribers to the plan under a contract that entitles each subscriber to certain hospital care. As used in this chapter, the term “hospital service corporation” includes any corporation organized under the provisions of this chapter and also any unincorporated association furnishing hospital, medical, surgical, or nursing services, or any combination of these, to subscribers or members, except as provided in section 4519 of this title. (Amended 2021, No. 105 (Adj. Sess.), § 205, eff. July 1, 2022.)