Sec. 265.019. USE OF EARNINGS OR ASSETS FOR PRIVATE PURPOSES PROHIBITED. 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.
Added by Acts 2001, 77th Leg., ch. 151, Sec. 1, eff. May 16, 2001.
Structure Texas Statutes
Chapter 265 - Joint Municipal and County Hospitals
Subchapter B. Joint Hospital With Board of Managers
Section 265.011. Establishment of Hospital by Commissioners Court and Municipal Governing Body
Section 265.013. Board of Managers
Section 265.016. Financial Statement; Budget
Section 265.017. Issuance of Revenue Bonds
Section 265.0171. Repayment of Bonds
Section 265.0172. Additional Security for Bonds
Section 265.0174. Bonds Not Payable From Taxes
Section 265.0175. Sale of Bonds
Section 265.0176. Refunding Bonds
Section 265.0177. Authority to Borrow Money
Section 265.0178. Pledge of Security
Section 265.0179. Permissible Uses of Loan Proceeds
Section 265.018. Hospital Property
Section 265.0181. Transfer of Property
Section 265.019. Use of Earnings or Assets for Private Purposes Prohibited