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Texas Business Organizations Code - Section 303.002. Authority And Liability Of Shareholder

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 303.002. Authority And Liability Of Shareholder

§ 303.002. AUTHORITY AND LIABILITY OF SHAREHOLDER.  (a) A 
shareholder of a professional corporation is not required to 
supervise the performance of duties by an officer or employee of the 
corporation.
	(b)  A shareholder of a professional corporation is subject 
to no greater liability than a shareholder of a for-profit 
corporation.

Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.                     

Last modified: August 10, 2007