GroundRules
Tex. Finance Code § 273.111: QUORUM; VOTING.
Where this section sits in the code
- FINANCE CODE
- TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
- SUBTITLE Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES
- CHAPTER 273. SAVINGS AND LOAN SUPPLEMENTAL FUND ACT
- SUBCHAPTER B. ORGANIZATION OF CORPORATION
(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.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Collected 2026-08-27T01:47:13Z. Source file · JSON