{"data":{"id":"us-tx/tex.-business-organizations-code-200.308","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 200.308","heading":"VACANCY.","body":"(a) Except as provided by Subsection (b), a vacancy occurring in the office of a trust manager of a real estate investment trust may be filled by the affirmative vote of the majority of the remaining trust managers, even if the majority of trust managers constitutes less than a quorum of the trust managers.\n(b) The certificate of formation or bylaws of the real estate investment trust may provide an alternative procedure for filling a vacancy occurring in the office of a trust manager, including filling vacancies by simple majority or super majority votes of the shareholders.\n(c) The term of a trust manager elected to fill a vacancy occurring in the office of a trust manager is the unexpired term of the trust manager's predecessor in office and until the trust manager's successor is elected and has qualified.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 5. REAL ESTATE INVESTMENT TRUSTS","CHAPTER 200. REAL ESTATE INVESTMENT TRUSTS","SUBCHAPTER G. TRUST MANAGERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.200.htm#200.308","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"29a671e8dfa74d14aa36ba3a94d2987bd47dbbccd515390fd3ab6997c52b6e62","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-200.307","next":"us-tx/tex.-business-organizations-code-200.309"},"notice":"GroundRules: Original legal text. Not legal advice."}