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A BILL TO BE ENTITLED
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AN ACT
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relating to the qualifications for appointment to the board of |
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directors of certain economic development corporations. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 4B(c), Development Corporation Act of |
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1979 (Article 5190.6, Vernon's Texas Civil Statutes), is amended to |
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read as follows: |
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(c) The board of directors of a corporation under this |
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section consists of seven directors who are appointed by the |
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governing body of the eligible city for two-year terms of office. A |
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director may be removed by the governing body of the eligible city |
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at any time without cause. Each director of a corporation created |
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by an eligible city with a population of 100,000 [20,000] or more |
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must be a resident of the eligible city. Each director of a |
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corporation created by an eligible city with a population of less |
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than 100,000 [20,000] must be a resident of the eligible city, be a |
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resident of the county in which the major part of the area of the |
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eligible city is located, or reside at a place that is within 10 |
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miles of the eligible city's boundaries and is in a county bordering |
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the county in which the major part of the area of the eligible city |
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is located. Three directors shall be persons who are not employees, |
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officers, or members of the governing body of the eligible city. A |
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majority of the entire membership of the board is a quorum. The |
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board shall conduct all meetings within the boundaries of the |
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eligible city. The board shall appoint a president, a secretary, |
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and other officers of the corporation that the governing body of the |
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eligible city considers necessary. The corporation's registered |
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agent must be an individual resident of the state and the |
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corporation's registered office must be within the boundaries of |
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the eligible city. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |