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Texas Business Organizations Code

§ 21.760 — COMPENSATION OF PROVISIONAL DIRECTOR

BO § 21.760Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. P. JUDICIAL PROCEEDINGS RELATING TO CLOSE CORPORATION

Statute text

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(a)The compensation of a provisional director shall be determined by an agreement between the provisional director and the close corporation, subject to court approval.
(b)The court may set the compensation in the absence of an agreement or in the event of a disagreement between the provisional director and the close corporation.

Legislative history

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

Source: Texas Business Organizations Code § 21.760 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.