Tex. Business Organizations Code § 8.152
REPORTS OF INDEMNIFICATION AND ADVANCES
Texas · Texas Business Organizations Code · Status: effective
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- Citation
- Tex. Business Organizations Code § 8.152, REPORTS OF INDEMNIFICATION AND ADVANCES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/583166
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Full text
(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.