Tex. Insurance Code § 842.156
This is the official text of Tex. Insurance Code § 842.156, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 842.156. COMPENSATION OF CERTAIN OFFICERS AND EMPLOYEES.
Official statutory text
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.
(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.
Status: in_force · Read it on the official government site
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