Public-domain · open source
OpenJurist

Tex. Bus. Orgs. Code § 303.002

AUTHORITY AND LIABILITY OF SHAREHOLDER

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

(a) A shareholder of a professional corporation is not required to supervise the performance of duties by an officer or employee of the corporation.

(b) A shareholder of a professional corporation is subject to no greater liability than a shareholder of a for-profit corporation.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.