By Madden                                             H.B. No. 3540
         Line and page numbers may not match official copy.
         Bill not drafted by TLC or Senate E&E.
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to allowing employees, officers, or members of the
 1-3     governing body of a municipality to serve on board of directors of
 1-4     a corporation created pursuant to the Development Corporation Act
 1-5     of 1979.
 1-6           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-7           SECTION 1.  Article 5190.6, Section 4A(c) Vernon's Civil
 1-8     Statutes Annotated, is amended to read as follows:
 1-9           (c)  The board of directors of a corporation under this
1-10     section consists of five directors who are appointed by the
1-11     governing body of the city and who serve at the pleasure of the
1-12     governing body.  Any number of the directors may be persons who are
1-13     not employees, officers, or members of the governing body of the
1-14     eligible city.  A majority of the entire membership of the board
1-15     constitutes a quorum.  The board shall conduct each of its meetings
1-16     within the boundaries of the city.  The board shall appoint a
1-17     president, a secretary, and other officers of the corporation that
1-18     the governing body of the city considers necessary.  The
1-19     corporation's registered agent must be an individual resident of
1-20     the state and the corporation's registered office must be within
1-21     the boundaries of the city.