There is a newer version
of
this Section
2021 Texas Statutes
Business Organizations Code
Title 2 - Corporations
Chapter 22 - Nonprofit Corporations
Subchapter E. Management
Section 22.235. Officer Liability
Universal Citation: TX Bus Orgs § 22.235 (2021)
Sec. 22.235. OFFICER LIABILITY. (a) An officer is not liable to the corporation or any other person for an action taken or omission made by the officer in the person's capacity as an officer unless the officer's conduct was not exercised:
(1) in good faith;
(2) with ordinary care; and
(3) in a manner the officer reasonably believes to be in the best interest of the corporation.
(b) This section shall not affect the liability of the corporation for an act or omission of the officer.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Disclaimer: These codes may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
