Amend SB 358 by striking SECTION 8 of the bill and
substituting the following:
      SECTION 8. Section 11.04, Texas Credit Union Act (Article
2461-1.01 et seq., Vernon's Texas Civil Statutes), is amended to
read as follows:
      Sec. 11.04.  VACANCIES; REMOVAL. (a)  <The office of a member
of the commission becomes vacant on January 1 if the member failed
to attend more than one-half of the meetings of the commission held
during the preceding calendar year, excluding any meetings held
before the member assumed office.>
      <(b)>  The governor may remove a member from the member's
position on the commission for neglect of duty, incompetence, or
fraudulent or criminal conduct.
      (b) <(c)>  It is grounds for removal from the commission if a
member:
            (1)  does not have at the time of appointment the
qualifications required by Section 11.02;
            (2)  does not maintain during service on the commission
the qualifications required by Section 11.02;
            (3)  violates a prohibition established by Section
11.02;
            (4)  cannot because of illness or disability discharge
the member's duties for a substantial part of the term for which
the member is appointed; or
            (5)  is absent from more than half of the regularly
scheduled commission meetings that the member is eligible to attend
during a calendar year unless the absence is excused by majority
vote of the commission.
      (c)  The validity of an action of the commission is not
affected by the fact that it is taken when a ground for removal of
a commission member exists.
      (d)  If the commissioner has knowledge that a potential
ground for removal exists, the commissioner shall notify the
presiding officer of the commission of the potential ground.  The
presiding officer shall then notify the governor and the attorney
general that a potential ground for removal exists.  If the
potential ground for removal involves the presiding officer, the
commissioner shall notify the next highest officer of the
commission, who shall notify the governor and the attorney general
that a potential ground for removal exists <violates a prohibition
established by Section 11.02(e) of this Act>.
      (e) <(d)>  The office of a member of the commission is vacant
in the event of the death, resignation, or removal of  the member,
or if the member ceases to have the qualifications necessary to
serve as a member.
      (f) <(e)>  In the event of a vacancy on the commission for
any cause, the governor, with the advice and consent of the senate,
shall promptly appoint a qualified person to fill the unexpired
term.
      <(f)  The validity of an action of the commission is not
affected by the fact that it was taken when a ground for removal of
a member of the commission existed.>