(a) All officers and directors of NPs must receive a copy of or a link to the department's Land and Water Resources Conservation and Recreation Plan.
(b) In addition to subsection (a) of this section, NPs must comply with the best practices regarding officers and directors as prescribed in this section.
  (1) NPs must adopt and maintain a conflict of interest policy, which includes safeguards to prevent board members or their families from benefiting financially from any business decision of the NP.
  (2) NPs shall ensure that any compensation paid to executives or managers is reasonable.
  (3) NPs shall not elect or designate or otherwise select a department employee as an officer or director, other than as a non-voting uncompensated representative of the department.
  (4) NPs shall hold regular meetings of its Board of Directors.
  (5) NPs shall ensure that each board member and/or director is fully informed of activities and shall provide the following information to new board members:
    (A) articles of incorporation and by-laws;
    (B) most recent financial statements;
    (C) department rules on NPs and sponsorship; and
    (D) current agreements with the department.

Source Note: The provisions of this §51.164 adopted to be effective May 17, 2007, 32 TexReg 2655; amended to be effective March 19, 2018, 43 TexReg 1636