Any director, member of a committee, officer, or any representative of a domestic HMO, who is charged with the duty of handling or investing its funds, shall not intentionally:
- (1) deposit or invest such funds, except in the corporate name of said HMO or in the name of nominee of said HMO as may be allowed elsewhere in this subchapter; or
- (2) take or receive to his own use any fee, brokerage, or commission, on account of a loan made by or on behalf of such HMO, except reasonable interest may be received on amounts loaned to the HMO.
Source Note:The provisions of this §11.805 adopted to be effective June 27, 1991, 16 TexReg 3258.