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Texas Business Organizations Code

§ 3.255 — EFFECT OF EMERGENCY ACTION

BO § 3.255Title 1. GENERAL PROVISIONS · Ch. 3. FORMATION AND GOVERNANCE · Art. F. EMERGENCY GOVERNANCE

Statute text

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An emergency action taken by the governing persons of a domestic entity in accordance with the entity's governing documents or Section 3.2535, if taken in good faith and based on the reasonable belief that the emergency action was in the entity's best interest:
(1)is binding on the entity; and
(2)may not be used to impose liability on a managerial official, employee, or agent of the entity. Added by Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 4, eff. September 1, 2009. Amended by:

Legislative history

Acts 2021, 87th Leg., R.S., Ch. 39 (S.B. 1203), Sec. 10, eff. September 1, 2021.

Source: Texas Business Organizations Code § 3.255 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.