A trust manager of a real estate investment trust may not be held liable to the real estate investment trust for an act, omission, loss, damage, or expense arising from the performance of the trust manager's duties under the trust, except for liability arising from the wilful misfeasance, wilful malfeasance, or gross negligence of the trust manager.
Tex. Bus. Orgs. Code § 200.314
IMMUNITY FROM LIABILITY FOR PERFORMANCE OF DUTY
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.