Texas § 62.102 BOARD OF DIRECTORS.

Texas Statutes

§ 62.102 — BOARD OF DIRECTORS.

Texas § 62.102

Code FIFinance Code

This text of Texas § 62.102 (BOARD OF DIRECTORS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 62.102 (2026).

Text

Sec. 62.102. BOARD OF DIRECTORS.

(a)A board of not less than five or more than 21 directors shall direct the business of the association. The members or shareholders shall periodically set the number of directors by a resolution adopted at an annual meeting or a special meeting called for that purpose.

(b)The members or shareholders shall elect the board by a majority vote at each annual meeting.

(c)The bylaws of a capital stock association may require all or a majority of the board to be elected from among the holders of the capital stock.

(d)A vacancy on the board is filled by the election by a majority vote of the remaining directors, regardless of whether a quorum exists, of a director to serve until the next annual meeting of the members or shareholders. The remaining directors ma

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Sec. 62.102. BOARD OF DIRECTORS. (a) A board of not less than five or more than 21 directors shall direct the business of the association. The members or shareholders shall periodically set the number of directors by a resolution adopted at an annual meeting or a special meeting called for that purpose.
(b) The members or shareholders shall elect the board by a majority vote at each annual meeting.
(c) The bylaws of a capital stock association may require all or a majority of the board to be elected from among the holders of the capital stock.
(d) A vacancy on the board is filled by the election by a majority vote of the remaining directors, regardless of whether a quorum exists, of a director to serve until the next annual meeting of the members or shareholders. The remaining directors may continue to direct the association until the vacancy is filled.