LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session March 15, 2001 TO: Honorable Fred M. Bosse, Chair, House Committee on Civil Practices FROM: John Keel, Director, Legislative Budget Board IN RE: HB3137 by Hilbert (Relating to the liability of an officer of a nonprofit corporation.), As Introduced ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** The bill would exempt an officer of a nonprofit corporation from liability 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 in good faith and with ordinary care and in a manner the officer reasonably believes to be in the best interests of the corporation. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: JK, TB