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Texas Occupations Code - OCC § 351.366. Authority to Form Certain Jointly Owned Entities

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

(a) Except as provided by Section 351.361 or 351.457, an optometrist or therapeutic optometrist and a physician may, for the purposes described by Subsection (b), organize, jointly own, and manage any legal entity, including:

(1) a partnership under the Texas Revised Partnership Act (Article 6132b-1.01 et seq., Vernon's Texas Civil Statutes)  1;

(2) a limited partnership under the Texas Revised Limited Partnership Act (Article 6132a-1, Vernon's Texas Civil Statutes);  2 or

(3) a limited liability company under the Texas Limited Liability Company Act (Article 1528n, Vernon's Texas Civil Statutes). 3

(b) An entity authorized under Subsection (a) may:

(1) own real property, other physical facilities, or equipment for the delivery of health care services or management;

(2) lease, rent, or otherwise acquire the use of real property, other physical facilities, or equipment for the delivery of health care services or management; or

(3) employ or otherwise use a person who is not an optometrist, therapeutic optometrist, or physician for the delivery of health care services or management.

(c) Only an optometrist, therapeutic optometrist, or physician may have an ownership interest in an entity authorized under Subsection (a). This subsection does not prohibit an entity from making one or more payments to an owner's estate following the owner's death under an agreement with the owner or as otherwise authorized or required by law.

1 Expired effective January 1, 2010. See, now, V.T.C.A., Business Organizations Code § 151.001 et seq.
2 Expired effective January 1, 2010. See, now, V.T.C.A., Business Organizations Code § 153.002 et seq.
3 Expired effective January 1, 2010. See, now, V.T.C.A., Business Organizations Code § 101.001 et seq.
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Cite this article: FindLaw.com - Texas Occupations Code - OCC § 351.366. Authority to Form Certain Jointly Owned Entities - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-351-366/

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