Texas Statutes
Subchapter B. State Securities Board
Section 4002.056. Grounds for Removal

Sec. 4002.056. GROUNDS FOR REMOVAL. (a) It is a ground for removal from the board that a member:
(1) does not have at the time of taking office the qualifications required by Section 4002.051;
(2) does not maintain during service on the board the qualifications required by Section 4002.051;
(3) is ineligible for membership under Section 4002.052 or 4002.053;
(4) cannot, because of illness or disability, discharge the member's duties for a substantial part of the member's term; or
(5) is absent from more than half of the regularly scheduled board meetings that the member is eligible to attend during a calendar year without an excuse approved by a majority vote of the board.
(b) The validity of an action of the board is not affected by the fact that it is taken when a ground for removal of a board member exists.
(c) If the commissioner has knowledge that a potential ground for removal exists, the commissioner shall notify the board's presiding officer of the potential ground. The presiding officer shall then notify the governor and the attorney general that a potential ground for removal exists. If the potential ground for removal involves the presiding officer, the commissioner shall notify the board's next highest ranking officer, who shall then notify the governor and the attorney general that a potential ground for removal exists.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.

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