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Texas Business Organizations Code

§ 21.557 — TOLLING OF STATUTE OF LIMITATIONS

BO § 21.557Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. L. DERIVATIVE PROCEEDINGS

Statute text

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A written demand filed with the corporation under Section 21.553 tolls the statute of limitations on the claim on which demand is made until the later of:
(1)the 31st day after the expiration of any waiting period under Section 21.553; or
(2)the 31st day after the expiration of any stay granted under Section 21.555, including all continuations of the stay. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by:

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 7, eff. September 1, 2019.

Source: Texas Business Organizations Code § 21.557 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.