EXCEPTIONS TO LIMITATIONS
Applied in 1 court decision — leading case Tomlinson v. Clem (In re Clem) (2017)
Most recently applied in Tomlinson v. Clem (In re Clem) (December 2017)
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff
Section 21.223 or 21.224 does not limit the obligation of a holder, beneficial owner, subscriber, or affiliate to the obligee of the corporation if that person:
(1) expressly assumes, guarantees, or agrees to be personally liable to the obligee for the obligation; or
(2) is otherwise liable to the obligee for the obligation under this code or other applicable statute.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.