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Tex. Fin. Code § 273.111

QUORUM; VOTING

Known as the Texas Savings and Loan Supplemental Fund Act

The act spans §§ 273.001 to 273.504 (44 sections).

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff

(a) A quorum of the board consists of not less than a majority of all directors, except that:

(1) less than a majority of all directors may adjourn from time to time; and

(2) a majority of directors holding office constitutes a quorum for filling a vacancy on the board.

(b) Each member association is entitled to one vote on a matter at a meeting of the member associations, including the election of directors. The vote must be cast by a delegate authorized to act by that association.

(c) A majority of the votes cast is required to elect a director or approve a question to be voted on by the directors.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.