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2021 Texas Statutes
Business Organizations Code
Title 1 - General Provisions
Chapter 8 - Indemnification and Insurance
Subchapter D. Liability Insurance; Reporting Requirements
Section 8.152. Reports of Indemnification and Advances
Universal Citation: TX Bus Orgs § 8.152 (2021)
Sec. 8.152. REPORTS OF INDEMNIFICATION AND ADVANCES. (a) An enterprise shall report in writing to the owners or members of the enterprise an indemnification of or advance of expenses to a governing person.
(b) Subject to Subsection (c), the report must be made with or before:
(1) the notice or waiver of notice of the next meeting of the owners or members of the enterprise; or
(2) the next submission to the owners or members of a consent to action without a meeting.
(c) The report must be made not later than the first anniversary of the date of the indemnification or advance.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 44, eff. September 1, 2007.
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