Section 21.958 - Derivative Suits(a) In this section, "shareholder" means:(1) shareholders of a public benefit corporation that own, individually or collectively, at least two percent of the corporation's outstanding shares; or(2) shareholders of a public benefit corporation the shares of which are listed on a national securities exchange that own at least the lesser of:(A) the percentage of shares described by Subdivision (1); or(B) shares whose market value is at least $2 million.(b) A shareholder of a public benefit corporation may maintain a derivative action on behalf of the corporation to enforce compliance with the requirements of Section 21.956(a).Tex. Bus. Org. Code § 21.958
Added by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 776,Sec. 4, eff. 9/1/2017.