Texas Finance Code 126.455 – Vote On Voluntary Liquidation
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Finance Code 126.455
- Quorum: The number of legislators that must be present to do business.
At a special meeting called to consider the proposed liquidation, a majority of the credit union members voting, but not less than a quorum, may vote to dissolve and liquidate the credit union. Those members casting votes by mail or at the meeting constitute a quorum for the transaction of business at the special meeting, notwithstanding a bylaw provision to the contrary.
