BOARD ACTIONS

(a) Subject to Subsection (b), actions of the board must be approved by the affirmative vote of a quorum of the board. (b) Action on the following matters requires approval by a majority of the total membership of the board: (1) adoption of bylaws or rules for conduct of the business of the land bank for which the board serves; (2) hiring or firing of any employee or contractor of the land bank for which the board serves; (3) incurring debt; (4) adoption or amendment of the annual budget; and (5) sale, lease, encumbrance, or alienation of or improvements to real or personal property with a value of more than $50,000. (c) By majority vote, the board may delegate the hiring and firing of employees and contractors to a specific officer or committee of the land bank for which the board serves, under terms and to the extent specified by the board. (d) A board member may not vote by proxy. (e) A board member may request a recorded vote on any resolution or action of the land bank.