Sec. 501.070. ACTION OF BOARD; QUORUM. (a) A quorum of a board of directors is the lesser of:
(1) a majority of the number of directors:
(A) established by the corporation's bylaws; or
(B) stated in the corporation's certificate of formation, if the bylaws do not establish the number of directors; or
(2) the number of directors, not less than three, established as a quorum by the certificate of formation or bylaws.
(b) The act of a majority of the directors present at a meeting at which a quorum is present is an act of the board of directors, unless the act of a larger number is required by the certificate of formation or bylaws of the corporation.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
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