Rule 60303: Internal Nonprofit Corporations

1.  Title

Internal Nonprofit Corporations

2.  Rule and Regulation

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:

  Internal Corporation    Date
  Established

 

  The University of Texas System Medical
  Foundation

  10/5/73

 

3.  Definitions

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.

4.  Relevant Federal and State Statutes 

None 

5.  Relevant System Policies, Procedures, and Forms 

None 

6.  Who Should Know 

Administrators 
Chief Business Officers 
Development Officers 

7.  System Administration Office(s) Responsible for Rule 

Office of External Relations 

8.  Dates Approved or Amended 

May 15, 2014 
Editorial amendment made February 24, 2011 
December 10, 2004 

9.  Contact Information 

Questions or comments regarding this Rule should be directed to: 
•  bor@utsystem.edu