§ 122.052 — MEETINGS OF MEMBERS; VOTING.

Texas § 122.052

• Jurisdiction: Texas
• Code FI: Finance Code

Text

Sec. 122.052. MEETINGS OF MEMBERS; VOTING. (a) Members of a credit union shall hold an annual or special meeting at the time and place and in the manner provided by the bylaws.
(b) In determining a question requiring action by the members, each member may cast only one vote, regardless of the number of shares the member holds.
(c) The board may authorize voting by mail or by electronic means. Mail and electronic balloting shall be conducted in accordance with commission rules.
(d) A member that is not an organization may not vote by proxy. A member that is an organization may be represented by and vote through a designated representative who is authorized, in writing, by the organization's governing body to represent the organization.
(e) The credit union's bylaws may establish a minimum age requirement to vote.

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 15, eff. Sept. 1, 2003.