Texas Business Organizations Code - Section 8.052. Court-Ordered Indemnification
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§ 8.052. COURT-ORDERED INDEMNIFICATION. (a) On
application of a governing person, former governing person, or
delegate and after notice is provided as required by the court, a
court may order an enterprise to indemnify the person to the extent
the court determines that the person is fairly and reasonably
entitled to indemnification in view of all the relevant
circumstances.
(b) This section applies without regard to whether the
governing person, former governing person, or delegate applying to
the court satisfies the requirements of Section 8.101 or has been
found liable:
(1) to the enterprise; or
(2) because the person improperly received a personal
benefit, without regard to whether the benefit resulted from an
action taken in the person's official capacity.
(c) The indemnification ordered by the court under this
section is limited to reasonable expenses if the governing person,
former governing person, or delegate is found liable:
(1) to the enterprise; or
(2) because the person improperly received a personal
benefit, without regard to whether the benefit resulted from an
action taken in the person's official capacity.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 6.302 7.001 8.001 8.002 8.003 8.004 8.051 8.052 8.101 8.102 8.103 8.104 8.105 8.106 8.151
Last modified: August 11, 2007
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