LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              April 10, 2001
  
  
          TO:  Honorable Royce West, Chair, Senate Committee on
               Jurisprudence
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  SB731  by Brown, J. E. "Buster" (Relating to the
               liability of an officer of a nonprofit corporation.),
               Committee Report 1st House, Substituted
  
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*  No fiscal implication to the State is anticipated.                    *
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The bill would exempt an officer of a nonprofit 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 in good faith and with ordinary care and in a manner the
officer reasonably believes to be in the best interests of the
corporation.  The provisions of the article do not affect the liability
of the corporation for the act or omission of the officer.
  
Local Government Impact
  
No fiscal implication to units of local government is anticipated.
  
  
Source Agencies:   
LBB Staff:         JK, TB