Article V of the Restated Articles of Incorporation outlines that the corporation was formed for any lawful purpose or purposes not expressly prohibited under Title 1, Chapter 2 or Title 2, Chapter 22, for the Texas Business Organizations Coe (the 'TBOC'), including any purpose described the Section 2.002 of the TBOC, and :
A. The Foundation shall administer corporate assets and income for exclusively charitable purposes;
B. Administer assets for the benefit of Peterson Regional Medical Center;
C. At all times and within such purposes, to operative exclusively for charitable, religious, literary, educational and scientific purposes within the meaning of Section 501 © 3 of the Internal Revenue Code (the 'Code') and to transact such other business as may be permitted corporations exempt from tax under Section 501 © 3 of the Code and incorporated under the TBOC.