Texas Business Organizations Code

§ 22.235 — OFFICER LIABILITY

BO § 22.235Title 2. CORPORATIONS · Ch. 22. NONPROFIT CORPORATIONS · Art. E. MANAGEMENT

Statute text

(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.

Legislative history

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