The Texas Amendment of Articles to Expand Indemnification of Agents refers to a legal provision that enhances the protection and indemnification of agents in the state of Texas. This amendment focuses on expanding the scope and benefits of indemnification provisions offered to agents to provide them with additional safeguards and reassurances in their roles and responsibilities. Keywords: Texas, amendment, articles, expand, indemnification, agents, legal provision, protection, benefits, safeguard, reassurances, roles, responsibilities. Different types of Texas Amendment of Articles to Expand Indemnification of Agents: 1. Texas Business Corporation Act Amendment: This type of amendment specifically applies to corporations operating in Texas and aims to broaden the indemnification provisions granted to agents of these corporations. It ensures that agents have greater protection and support in carrying out their duties. 2. Texas Nonprofit Corporation Act Amendment: This amendment aligns with the specific requirements of nonprofit organizations in Texas. It enhances the indemnification provisions available to agents serving within these nonprofits, enabling them to fulfill their responsibilities with confidence. 3. Texas Limited Liability Company Act Amendment: This type of amendment caters to limited liability companies (LCS) operating in Texas. It encompasses provisions that expand the indemnification benefits provided to agents of LCS, covering a wide range of scenarios and ensuring their security while acting on behalf of the company. 4. Texas Partnership Act Amendment: This amendment focuses on partnerships established in Texas and aims to strengthen the indemnification offered to agents operating within these partnerships. It provides agents with increased protection against legal liabilities and encourages them to act in the best interests of the partnership. 5. Texas Professional Association Act Amendment: This type of amendment applies to professional associations in Texas, such as law firms or medical practices. It refines the indemnification provisions available to agents within these associations, recognizing the unique risks and challenges faced by professionals in their respective fields. Overall, the Texas Amendment of Articles to Expand Indemnification of Agents, whether pertaining to corporations, nonprofits, limited liability companies, partnerships, or professional associations, seeks to provide agents with extensive protection and indemnification, fostering a conducive environment for them to carry out their duties effectively and confidently.
Texas Amendment of Articles to Expand Indemnification of Agents
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(b) Except as provided by this code, the certificate of formation of a filing entity may authorize the owners or members of the entity to take action without holding a meeting, providing prior notice, or taking a vote if owners or members of the entity having at least the minimum number of votes that would be necessary ...
(a) The act of a majority of the directors present at a meeting at which a quorum is present at the time of the act is the act of the board of directors of a corporation, unless the act of a greater number is required by the certificate of formation or bylaws of the corporation or by this code.
(a) Regular meetings of the board of directors of a corporation may be held with or without notice as prescribed by the corporation's bylaws. (b) Special meetings of the board of directors shall be held with notice as prescribed by the bylaws.
Current with legislation from the 2023 Regular and Special Sessions effective as of September 1, 2023. Section 21.218 - Examination of Records (a) In this section, a holder of a beneficial interest in a voting trust entered into under Section 6.251 is a holder of the shares represented by the beneficial interest.
Section 21.418 - Contracts or Transactions Involving Interested Directors and Officers (a) This section applies to a contract or transaction between a corporation and: (1) one or more directors or officers, or one or more affiliates or associates of one or more directors or officers, of the corporation; or (2) an ...
(a) Regular meetings of the board of directors of a corporation may be held with or without notice as prescribed by the corporation's bylaws. (b) Special meetings of the board of directors shall be held with notice as prescribed by the bylaws.
Under Article 2.21 of the Texas Business Corporation Act (TBCA), for example, shareholders or affiliates cannot be held liable for a corporation's contractual obligations unless they caused the corporation to be used to perpetrate ?an actual fraud? primarily for the purpose of personal benefit?.
Section 21.418 - Contracts or Transactions Involving Interested Directors and Officers (a) This section applies to a contract or transaction between a corporation and: (1) one or more directors or officers, or one or more affiliates or associates of one or more directors or officers, of the corporation; or (2) an ...