(a) The directors of the corporation shall at all times be composed of the following groups in equal numbers:

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Terms Used In Tennessee Code 56-28-103

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(1) Administrators or trustees of hospitals that have contracted with the corporation to render hospital service to the subscribers;
(2) Physicians, exclusive of group one (1); and
(3) The general public, exclusive of groups one (1) and two (2).
(b) Directors or board members should serve without pay for their work in this capacity; provided, that they may receive payment for particular services actually rendered, such as legal counsel, medical service, accounting or other required services, upon specific approval of the board of directors, the approval being made a part of the minutes of the board.
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