Section 200.316 - Officers(a) An officer of a real estate investment trust designated by the trust managers under Section 3.103 may exercise all of the powers of a trust manager relating to the business and affairs of the real estate investment trust, unless action by the trust managers is specified by this code or another applicable law.(b) A designation of or delegation of authority to an officer of a real estate investment trust described by this section does not relieve a trust manager of responsibility imposed by law.Tex. Bus. Org. Code § 200.316
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.