Rule 60303: Internal Nonprofit Corporations
Sec. 1 Management.
An internal corporation is managed pursuant to its charter and bylaws and in accordance with the Regents' Rules and Regulations.
Sec. 2 List of Corporations.
The following internal corporation is presently authorized:
The University of Texas System Medical Foundation
Internal Corporation – As used in this Chapter, the term "internal corporation" means a nonprofit corporation chartered under the laws of the State of Texas under the Charter of which
(1) the Board of Regents:
(a) acts as the Board of Directors or has the authority to appoint or to approve or reject the appointment of the Board of Directors; and
(b) has the authority to approve amendments to the charter and bylaws.
(2) the funds of which are deposited and accounted for in appropriate University accounts.
May 15, 2014
Editorial amendment made February 24, 2011
December 10, 2004