Tex. Bus. Org. Code § 8.002

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 8.002 - Application of Chapter

(a) Except as provided by Subsection (b) and Section 8.005, this chapter does not apply to a:

(1) general partnership; or

(2) limited liability company.

(b) The governing documents of a general partnership or limited liability company may adopt provisions of this chapter or may contain other provisions, which will be enforceable, relating to:

(1) indemnification;

(2) advancement of expenses; or

(3) insurance or another arrangement to indemnify or hold harmless a governing person.

Tex. Bus. Org. Code § 8.002

Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 39,Sec. 13, eff. 9/1/2021.

Amended by Acts 2007, 80th Leg., R.S., Ch. 688, Sec. 40, eff. 9/1/2007.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.