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Chapter 8 governs any proposed indemnification by a domestic entity after the mandatory application date, regardless of whether the events on which the indemnification is based occurred before or after the mandatory application date. In a case in which indemnification is permitted but not required under Chapter 8, a provision relating to indemnification contained in the governing documents of a domestic entity on the mandatory application date that would otherwise have the effect of limiting the nature or type of indemnification permitted by Chapter 8 may not be construed after the mandatory application date as limiting the indemnification authorized by Chapter 8 unless the provision is intended to limit or restrict permissive indemnification under applicable law.
Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 402.007. Indemnification - last updated April 14, 2021 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-402-007/
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