Texas Business Organizations Code - Section 402.007. Indemnification
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§ 402.007. INDEMNIFICATION. Chapter 8 governs any
proposed indemnification by a domestic entity after the mandatory
application date, regardless of whether the events on which the
indemnification is based occurred before or after the mandatory
application date. In a case in which indemnification is permitted
but not required under Chapter 8, a provision relating to
indemnification contained in the governing documents of a domestic
entity on the mandatory application date that would otherwise have
the effect of limiting the nature or type of indemnification
permitted by Chapter 8 may not be construed after the mandatory
application date as limiting the indemnification authorized by
Chapter 8 unless the provision is intended to limit or restrict
permissive indemnification under applicable law.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006. Amended by
Acts 2005, 79th Leg., ch. 64, § 104, eff. Jan. 1, 2006.
Section: 401.001 402.001 402.002 402.003 402.004 402.005 402.006 402.007 402.008 402.009 402.010 402.011 402.012 402.013 402.014
Last modified: August 11, 2007
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