07-07-15 Meeting of the La Porte Development Corporation Board of Directors

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LOCAL GOVERNMENT CODE CHAPTER 501. PROVISIONS GOVERNING DEVELOPMENT CORPORATIONS (b) A director serves for a term of not more than six years. (c) The governing body of the corporation's authorizing unit may remove a director for cause or at will. (d) A director serves without compensation, but is entitled to reimbursement for actual expenses incurred in the performance of the director's duties under this subtitle. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009. Sec. 501.063. ORGANIZATIONAL MEETING. (a) After issuance of the certificate evidencing the filing of the certificate of formation, the board of directors named in the certificate of formation shall hold an organizational meeting in this state to adopt bylaws and elect officers and for other purposes. (b) Not later than the third day before the date of the meeting, the organizers who call the meeting shall give notice by mail of the time and place of the meeting to each director named in the certificate of formation. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009. Sec. 501.064. BYLAWS. (a) A corporation may adopt and amend bylaws for the administration and regulation of the corporation's affairs. (b) The board of directors shall adopt a corporation's initial bylaws. (c) The bylaws and each amendment of the bylaws must: (1) be consistent with state law and with the certificate of formation of the corporation; and (2) be approved by resolution of the governing body of the corporation's authorizing unit. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009. Sec. 501.065. OFFICERS. (a) A corporation has the following officers: (1) a president; (2) at least one vice president; (3) a secretary; (4) a treasurer; and (5) other officers or assistant officers considered necessary. (b) An officer of the corporation is elected or appointed at the time, in the manner, and for the term prescribed by the certificate of formation or bylaws, except that an officer's term may not exceed three years. In the http://www.statutes.legis.state.tx.us/Docs/LG/htm/LG.501.htm\[9/22/2014 3:35:01 PM\]