Sec. 67.006. OFFICERS. (a) The board shall elect a president, a vice president, and a secretary-treasurer following the issuance of a charter and after each annual meeting of the membership or shareholders. At the meeting, each member or stockholder may be allowed only one vote regardless of the number of memberships or stock certificates held by the person.
(b) The board may require a bond of an officer for faithful performance of the officer's duties.
(c) The salary of an officer of the corporation other than secretary-treasurer or a manager employed under Section 67.012 may not exceed $5,000 a year. The board shall set the secretary-treasurer's salary at an amount commensurate with the secretary-treasurer's duties.
Added by Acts 1997, 75th Leg., ch. 166, Sec. 2, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 18.18(a), eff. Sept. 1, 1999.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 67 - Nonprofit Water Supply or Sewer Service Corporations
Subchapter A. General Provisions
Section 67.002. Purpose of Corporation
Section 67.003. Creation of Corporation
Section 67.004. Application of Texas Non-Profit Corporation Act
Section 67.0051. Qualifications for Election or Appointment as Director
Section 67.0052. Ballot Application
Section 67.0054. Election Procedures
Section 67.0055. Election of Unopposed Candidate
Section 67.007. Annual or Special Meeting of Retail Corporation
Section 67.0075. Annual or Special Meeting of Other Corporation
Section 67.008. Distribution of Profits
Section 67.010. Power to Contract With Other Entities
Section 67.0105. Water for Fire Suppression
Section 67.011. Additional Powers of Corporation
Section 67.011. Powers of Corporation in Certain Counties
Section 67.012. Use of Manager
Section 67.013. Use of Counsel
Section 67.014. Depository for Funds; Permitted Investments
Section 67.015. Exemption From Securities Act
Section 67.016. Transfer or Cancellation of Stock, Membership, or Other Right of Participation
Section 67.017. Voluntary Contributions on Behalf of Emergency Services