Tex. Business Organizations Code § 8.051
MANDATORY INDEMNIFICATION
Texas · Texas Business Organizations Code · Status: effective
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- Citation
- Tex. Business Organizations Code § 8.051, MANDATORY INDEMNIFICATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/583155
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Full text
(a) An enterprise shall indemnify a governing person, former governing person, or delegate against reasonable expenses actually incurred by the person in connection with a proceeding in which the person is a respondent because the person is or was a governing person or delegate if the person is wholly successful, on the merits or otherwise, in the defense of the proceeding.
(b) A court that determines, in a suit for indemnification, that a governing person, former governing person, or delegate is entitled to indemnification under this section shall order indemnification and award to the person the expenses incurred in securing the indemnification.