Texas Finance Code - Section 92.158. Voting Rights
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Texas Lawyer > Finance Code > Texas Finance Code - Section 92.158. Voting Rights
§ 92.158. VOTING RIGHTS. (a) The voting rights of a
person entitled to vote at an annual or special meeting of a savings
bank are the same as those of a shareholder of a domestic business
corporation under the Texas Business Corporation Act.
(b) The bylaws of a savings bank must specify the voting
requirements, including quorum requirements, for conducting
business at a meeting of the members or shareholders.
(c) The bylaws of a savings bank must provide for the voting
rights of the members or shareholders. The bylaws must provide the
manner of computing the number of votes that a member or shareholder
is entitled to cast. The bylaws of a capital stock savings bank may
provide that only shareholders may vote.
(d) Voting may be in person or by proxy. A proxy must be in
writing and signed by the member or shareholder or the member's or
shareholder's duly authorized attorney-in-fact and be filed with
the secretary of the savings bank. Unless otherwise specified in
the proxy, a proxy continues until:
(1) a written revocation is delivered to the
secretary; or
(2) the proxy is superseded by a subsequent proxy.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 92.151 92.152 92.153 92.154 92.155 92.156 92.157 92.158 92.201 92.202 92.203 92.204 92.205 92.206 92.207
Last modified: August 10, 2007
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