Texas Insurance Code
§ 845.058 — SALE OR DISSOLUTION OF SYSTEM
IN § 845.058Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES · Ch. 845. STATEWIDE RURAL HEALTH CARE SYSTEM · Art. B. SYSTEM
Statute text
View on source(a)The participating hospital providers may authorize, by a two-thirds vote, the sale of the system or substantially all of the assets of the system.
(b)Except as otherwise provided by law, on the sale or dissolution of the system or the sale of substantially all of the assets of the system, the net revenue shall be distributed equally to the participating hospital providers after payment of any outstanding liabilities incurred by the system.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.