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Texas Business Organizations Code - BUS ORG § 8.152. Reports of Indemnification and Advances

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

(a) An enterprise shall report in writing to the owners or members of the enterprise an indemnification of or advance of expenses to a governing person.

(b) Subject to Subsection (c), the report must be made with or before:

(1) the notice or waiver of notice of the next meeting of the owners or members of the enterprise; or

(2) the next submission to the owners or members of a consent to action without a meeting.

(c) The report must be made not later than the first anniversary of the date of the indemnification or advance.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 8.152. Reports of Indemnification and Advances - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-8-152/

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