Tex. Loc. Gov't Code § 501.062 : LOCAL GOVERNMENT CODE — PLANNING AND DEVELOPMENT — ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT — PROVISIONS GOVERNING DEVELOPMENT CORPORATIONS — CREATION AND OPERATION OF CORPORATION — Board of Directors TEXT PDF (a) All of the powers of a corporation are vested in a board of directors consisting of three or more directors appointed by the governing body of the corporation's authorizing unit. (b) A director serves for a term of not more than six years. (c) The governing body of the corporation's authorizing unit may remove a director for cause or at will. (d) A director serves without compensation, but is entitled to reimbursement for actual expenses incurred in the performance of the director's duties under this subtitle. Tex. Loc. Gov't. Code § 501.062 Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.