Tex. Bus. Org. Code § 22.222

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

Section 22.222 - Religious Corporation Director's Good Faith Reliance on Certain Information

A director of a religious corporation, in the discharge of a duty imposed or power conferred on the director, including a duty imposed or power conferred as a committee member, may rely in good faith on information or on an opinion, report, or statement, including a financial statement or other financial data, concerning the corporation or another person that was prepared or presented by:

(1) a religious authority; or

(2) a minister, priest, rabbi, or other person whose position or duties in the religious organization the director believes justify reliance and confidence and whom the director believes to be reliable and competent in the matters presented.

Tex. Bus. Org. Code § 22.222

Amended by Acts 2007, 80th Leg., R.S., Ch. 688, Sec. 91, eff. 9/1/2007.

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