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Texas Health and Safety Code

§ 265.019 — USE OF EARNINGS OR ASSETS FOR PRIVATE PURPOSES PROHIBITED

HS § 265.019Title 4. HEALTH FACILITIES · Part C. LOCAL HOSPITALS · Ch. 265. JOINT MUNICIPAL AND COUNTY HOSPITALS · Art. B. JOINT HOSPITAL WITH BOARD OF MANAGERS

Statute text

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Except as reasonable compensation for services rendered or reasonable allowance for authorized expenditures incurred on behalf of the board of managers or the hospital, the net earnings of the board or the hospital may not be used for the benefit of a private officer, board member, individual, or substantial contributor to the board of managers or the hospital. The assets of the board or the hospital may not be distributed to, be divided among, be used for, accrue to, or benefit a private officer, board member, individual, or substantial contributor to the board or the hospital.

Legislative history

Added by Acts 2001, 77th Leg., ch. 151, Sec. 1, eff. May 16, 2001.

Source: Texas Health and Safety Code § 265.019 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.