{"data":{"id":"us-tx/tex.-business-organizations-code-21.107","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 21.107","heading":"LIABILITY OF SHAREHOLDER.","body":"The existence of or a performance under a shareholders' agreement authorized by this subchapter is not a ground for imposing personal liability on a shareholder for an act or obligation of the corporation by disregarding the separate existence of the corporation or otherwise, even if the agreement or a performance under the agreement:\n(1) treats the corporation as if the corporation were a partnership or in a manner that otherwise is appropriate only among partners;\n(2) results in the corporation being considered a partnership for purposes of taxation; or\n(3) results in failure to observe the corporate formalities otherwise applicable to the matters governed by the agreement.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 2. CORPORATIONS","CHAPTER 21. FOR-PROFIT CORPORATIONS","SUBCHAPTER C. SHAREHOLDERS' AGREEMENTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm#21.107","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"319d603095031a8cdcb47a9f5e480c976ba2b2f5a14d739be5cddbc1c3a4f1b7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-21.106","next":"us-tx/tex.-business-organizations-code-21.108"},"notice":"GroundRules: Original legal text. Not legal advice."}