SENATE BILL 731 |
SENATE AUTHOR: Brown, J. E. "Buster" |
EFFECTIVE: 09-01-01 |
HOUSE SPONSOR: Bosse |
Senate Bill 731 amends the Texas Non-Profit Corporation Act to provide that 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 official capacity unless the officer's conduct was not exercised in good faith, with ordinary care, and in a manner the officer reasonably believed to be in the best interest of the corporation.