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Texas Business Organizations Code - BUS ORG § 22.222. Religious Corporation Director's Good Faith Reliance on Certain Information

Current as of January 01, 2024 | Updated by Findlaw Staff

A director of a religious corporation, in the discharge of a duty imposed or power conferred on the director, including a duty imposed or power conferred as a committee member, may rely in good faith on information or on an opinion, report, or statement, including a financial statement or other financial data, concerning the corporation or another person that was prepared or presented by:

(1) a religious authority;  or

(2) a minister, priest, rabbi, or other person whose position or duties in the religious organization the director believes justify reliance and confidence and whom the director believes to be reliable and competent in the matters presented.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 22.222. Religious Corporation Director's Good Faith Reliance on Certain Information - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-22-222/

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