Sec. 273.107. REMOVAL OF BOARD MEMBER. The board may remove an elected director from office by a two-thirds majority vote at a meeting called for that express purpose because the director has failed to:
(1) maintain the standards for directors specified in the plan of operation; or
(2) perform any required duty.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses
Chapter 273 - Savings and Loan Supplemental Fund Act
Subchapter B. Organization of Corporation
Section 273.101. Creation of and Membership in Corporation
Section 273.102. Board of Directors
Section 273.103. Executive Committee
Section 273.105. Board Officers and Personnel
Section 273.107. Removal of Board Member
Section 273.108. Conflict of Interest