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Tex. Ins. Code § 845.058

SALE OR DISSOLUTION OF SYSTEM

Known as the Statewide Rural Health Care System Act

The act spans §§ 845.001 to 845.206 (33 sections).

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff

(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.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.