Sec. 842.156. COMPENSATION OF CERTAIN OFFICERS AND EMPLOYEES. 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.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle C - Life, Health, and Accident Insurers and Related Entities
Chapter 842 - Group Hospital Service Corporations
Subchapter D. Board of Directors; Personnel
Section 842.151. Board of Directors
Section 842.152. Compensation of Directors
Section 842.153. Board Meetings
Section 842.154. Bond Requirements for Certain Officers and Employees
Section 842.155. Treasurer's Bond
Section 842.156. Compensation of Certain Officers and Employees