Sec. 845.058. SALE OR DISSOLUTION OF SYSTEM. (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.
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 845 - Statewide Rural Health Care System
Section 845.051. Statewide Rural Health Care System
Section 845.052. Organization Requirements
Section 845.053. Requirements Applicable to Certain Plans
Section 845.054. Local Government
Section 845.055. Provision of Administrative and Health Care Services
Section 845.056. Gifts and Grants
Section 845.057. Limitation on Authority of Participating Hospital Providers