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Texas Insurance Code - INS § 842.156. Compensation of Certain Officers and Employees

Current as of January 01, 2024 | Updated by Findlaw Staff

A paid officer or employee of a group hospital service corporation may not receive more than $20,000 annually as compensation for the officer's or employee's services unless a higher amount is first authorized by a vote of:

(1) the board of directors of the corporation;  or

(2) a committee of the board of directors that is charged with the duty of authorizing that compensation.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 842.156. Compensation of Certain Officers and Employees - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-842-156/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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