Texas Government Code 865.004 – Voting
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(a) Each trustee of the state board is entitled to one vote. Except as provided by Subsection (b), at any meeting of the state board, a vote by a majority of the trustees present is necessary for a decision by the trustees.
(b) The concurrence of a majority of the members of the state board is required for a vote regarding:
(1) eligibility for service retirement described by Section 864.001;
(2) the computation of a service retirement annuity described by Section 864.002;
(3) a cost-of-living increase described by Section 864.013; or
(4) a lump-sum payment adopted under Section 864.014.
Terms Used In Texas Government Code 865.004
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Trustee: A person or institution holding and administering property in trust.