Texas Finance Code 273.111 – Quorum; Voting
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(a) A quorum of the board consists of not less than a majority of all directors, except that:
(1) less than a majority of all directors may adjourn from time to time; and
(2) a majority of directors holding office constitutes a quorum for filling a vacancy on the board.
(b) Each member association is entitled to one vote on a matter at a meeting of the member associations, including the election of directors. The vote must be cast by a delegate authorized to act by that association.
Terms Used In Texas Finance Code 273.111
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- Quorum: The number of legislators that must be present to do business.
(c) A majority of the votes cast is required to elect a director or approve a question to be voted on by the directors.