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Texas Business Organizations Code

§ 22.228 — RELIANCE ON WRITTEN OPINION OF ATTORNEY

BO § 22.228Title 2. CORPORATIONS · Ch. 22. NONPROFIT CORPORATIONS · Art. E. MANAGEMENT

Statute text

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A director is not liable under Section 22.226 or 22.227 if, in the exercise of ordinary care, the director acted in good faith and in reliance on the written opinion of an attorney for the corporation.

Legislative history

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

Source: Texas Business Organizations Code § 22.228 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.