Rhode Island General Laws 27-20-3. Qualifications of directors
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A majority of the directors of a nonprofit medical service corporation, other than a corporation organized pursuant to the provisions of chapter 19 of this title, must at all times be doctors of medicine duly licensed to practice under the laws of this state. The directors of any nonprofit medical service corporation formed after January 1, 1964, shall consist of an equal number of representatives of the public, doctors of medicine duly licensed to practice under the laws of this state, and subscribers.
History of Section.
P.L. 1945, ch. 1598, § 2; G.L. 1956, § 27-20-3; P.L. 1964, ch. 79, § 2.
Terms Used In Rhode Island General Laws 27-20-3
- 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.
- Nonprofit medical service corporation: means any corporation organized pursuant hereto for the purpose of establishing, maintaining, and operating a nonprofit medical service plan. See Rhode Island General Laws 27-20-1
- Subscribers: means those persons or groups of persons who contract with a nonprofit medical service corporation for medical service pursuant to a nonprofit medical service plan. See Rhode Island General Laws 27-20-1