Tex. Bus. Org. Code § 8.152

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 8.152 - Reports of Indemnification and Advances

(a) An enterprise shall report in writing to the owners or members of the enterprise an indemnification of or advance of expenses to a governing person.

(b) Subject to Subsection (c), the report must be made with or before:

(1) the notice or waiver of notice of the next meeting of the owners or members of the enterprise; or

(2) the next submission to the owners or members of a consent to action without a meeting.

(c) The report must be made not later than the first anniversary of the date of the indemnification or advance.

Tex. Bus. Org. Code § 8.152

Amended by Acts 2007, 80th Leg., R.S., Ch. 688, Sec. 44, eff. 9/1/2007.

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