Sec. 431.028. BOARD. (a) A corporation must have a board in which the powers of the corporation reside.
(b) The board consists of three or more directors.
(c) The commission shall appoint each director for a term that may not exceed six years.
(d) The commission may remove a director for or without cause.
(e) A director serves without compensation but is entitled to reimbursement from the corporation for expenses incurred in the performance of the director's duties.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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