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Texas Business Organizations Code - BUS ORG § 22.227. Dissent to or Abstention from Action

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

(a) A director of a corporation who is present at a meeting of the board of directors at which action is taken on a corporate matter described by Section 22.226(a) is presumed to have assented to the action unless:

(1) the director's dissent or abstention has been entered in the minutes of the meeting;

(2) the director has filed a written dissent or abstention with respect to the action with the person acting as the secretary of the meeting before the meeting is adjourned; or

(3) the director has sent to the secretary of the corporation, within a reasonable time after the meeting has been adjourned, a written dissent or abstention by:

(A) certified or registered mail, return receipt requested; or

(B) other means specified in the corporation's governing documents.

(b) The right to dissent or abstain under this section does not apply to a director who voted in favor of the action.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 22.227. Dissent to or Abstention from Action - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-22-227/

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