REMOVAL OF BOARD MEMBER
Known as the Texas Savings and Loan Supplemental Fund Act
The act spans §§ 273–273 (44 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
The board may remove an elected director from office by a two-thirds majority vote at a meeting called for that express purpose because the director has failed to:
(1) maintain the standards for directors specified in the plan of operation; or
(2) perform any required duty.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.