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Texas Business Organizations Code

§ 21.225 — EXCEPTIONS TO LIMITATIONS

BO § 21.225Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. E. SHAREHOLDER RIGHTS AND RESTRICTIONS

Statute text

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Section 21.223 or 21.224 does not limit the obligation of a holder, beneficial owner, subscriber, or affiliate to the obligee of the corporation if that person:
(1)expressly assumes, guarantees, or agrees to be personally liable to the obligee for the obligation; or
(2)is otherwise liable to the obligee for the obligation under this code or other applicable statute.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 21.225 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.