Texas Finance Code

§ 273.106 — VACANCY

FI § 273.106Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES · Ch. 273. SAVINGS AND LOAN SUPPLEMENTAL FUND ACT · Art. B. ORGANIZATION OF CORPORATION

Statute text

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(a)The office of a director becomes vacant on the death, resignation, or removal of the director.

(b)A resignation must be presented to the commissioner or the board's presiding officer.

(c)A vacancy in the office of a director shall be filled for the unexpired term by majority vote of the remaining directors.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.