Texas Business Organizations Code - Section 22.222. Religious Corporation Director's Good Faith Reliance On Certain Information
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 22.222. Religious Corporation Director's Good Faith Reliance On Certain Information
§ 22.222. RELIGIOUS CORPORATION DIRECTOR'S GOOD FAITH
RELIANCE ON CERTAIN INFORMATION. A director of a religious
corporation, in the discharge of a duty imposed or power conferred
on the director, including a duty imposed or power conferred as a
committee member, may rely in good faith on information or on an
opinion, report, or statement, including a financial statement or
other financial data, concerning the corporation or another person
that was prepared or presented by:
(1) a religious authority; or
(2) a minister, priest, rabbi, or other person whose
position or duties in the corporation the director believes justify
reliance and confidence and whom the director believes to be
reliable and competent in the matters presented.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 22.215 22.216 22.217 22.218 22.219 22.220 22.221 22.222 22.223 22.224 22.225 22.226 22.227 22.228 22.229
Last modified: August 11, 2007
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