Tex.
Spec. Dist. Local Laws Code Section 8502.009
Board of Directors; Bonds; Quorum; Officers
(a)
The board consists of 21 members. Members of the board and their successors serve staggered terms of six years and until their successors are designated and have qualified. The terms of seven members of the board expire on February 1 of each odd-numbered year.(b)
The governor shall appoint the directors at large with the advice and consent of the senate. Within 60 days after appointment, each director shall take and subscribe an oath of office similar to the oaths administered to county commissioners and shall execute bond in the amount of $5,000, payable to the authority. The premium on the bond shall be paid by the authority. The bond, after being recorded in the official bond records of the county in which the authority maintains its office, shall be deposited with a depository selected and approved for the deposit of the funds of the authority.(c)
A vacancy occurring on the board shall be filled by appointment of the governor with the advice and consent of the senate.(d)
Eleven members of the board constitute a quorum to transact business.(e)
The governor shall designate a director as the presiding officer of the board to serve in that capacity at the pleasure of the governor. The board shall elect from among its members an assistant presiding officer and a secretary. The board shall appoint a treasurer. The treasurer shall furnish a bond in an amount equal to 75 percent of the amount of money estimated to be on hand during the year, not to exceed $100,000.
Source:
Section 8502.009 — Board of Directors; Bonds; Quorum; Officers, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8502.htm#8502.009 (accessed Apr. 29, 2024).
