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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Business Organizations Code § 23.059: TERM OF OFFICE; VACANCY.

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Where this section sits in the code
  1. BUSINESS ORGANIZATIONS CODE
  2. TITLE 2. CORPORATIONS
  3. CHAPTER 23. SPECIAL-PURPOSE CORPORATIONS
  4. SUBCHAPTER B. BUSINESS DEVELOPMENT CORPORATIONS

(a) A director of a corporation holds office until the next annual election of directors and until a successor is elected and qualified, unless the director is removed at an earlier date in accordance with the corporation's bylaws.

(b) A vacancy in the office of a director elected by the members shall be filled by the directors elected by the members, and a vacancy in the office of a director elected by the shareholders shall be filled by the directors elected by the shareholders.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Collected 2026-08-27T01:46:58Z. Source file · JSON

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