Sec. 8506.055. VOTING REQUIREMENT. (a) Except as provided by this chapter or the bylaws, action may be taken by the affirmative vote of a majority of the directors present at a meeting.
(b) The following are valid only if authorized or ratified by the affirmative vote of at least five directors:
(1) a contract that involves an amount greater than $10,000 or has a duration of more than one year;
(2) a bond, note, or other evidence of indebtedness; or
(3) an amendment of the bylaws.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
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