Tex. Fin. Code § 273.111 · Subchapter B. ORGANIZATION OF CORPORATION
QUORUM; VOTING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.273.htm
- Text hash
- sha256 1ac68f56fe615295b4d153caf9e26340275396e5b1f13192e381b73c49117185
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.