Sec. 251.101. BOARD OF DIRECTORS. (a) Except as provided by Subsections (b) and (c), a cooperative association is managed by a board of directors in accordance with Chapter 22.
(b) The board shall contain at least five directors elected by and from the cooperative association's members. A director:
(1) serves a term not to exceed three years as provided by the bylaws; and
(2) holds office until the director is removed or the director's successor is elected.
(c) The bylaws of a cooperative association may:
(1) apportion the number of directors among the units into which the cooperative association may be divided; and
(2) provide for the election of the directors by the respective units to which the directors are apportioned.
(d) An executive committee of the board of directors may be elected in the manner and with the powers and duties specified by the certificate of formation or bylaws.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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