55-1629. Same; meetings; director.

55-1629

Chapter 55.--OIL AND GAS
Article 16.--MISCELLANEOUS PROVISIONS

      55-1629.   Same; meetings; director.(a) There shall be an annual meeting of the board at which theannual report and proposed budget shall be presented. The board, at the call ofthe presiding officer, shall hold at least three other regular meetings eachyear. The presiding officer shall establish the time, manner and place for allmeetings and shall provide notice of the meetings. A majority of the members ofthe board shall constitute a quorum for the transaction of any business of theboard. In addition, the board shall determine the circumstances under whichadditional meetings of the board may be held.

      (b)   The board may appoint a director who shall carry out the provisions ofthe act. The director shall not be one of the appointed board members.

      History:   L. 2006, ch. 94, § 5; July 1.