The board of trustees shall:
(1) maintain minutes of its meetings and make the minutes available to the commissioner;
(2) designate an administrator and delineate in the written minutes of its meetings the areas of authority it delegates to the administrator; and
(3) retain an independent certified public accountant to audit the financial statements required by Section 407A.251.
Added by Acts 2003, 78th Leg., ch. 275, § 1, eff. Sept. 1, 2003.