{"data":{"id":"us-tx/tex.-business-organizations-code-21.958","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 21.958","heading":"DERIVATIVE SUITS.","body":"(a) In this section, \"shareholder\" means:\n(1) shareholders of a public benefit corporation that own, individually or collectively, at least two percent of the corporation's outstanding shares; or\n(2) shareholders of a public benefit corporation the shares of which are listed on a national securities exchange that own at least the lesser of:\n(A) the percentage of shares described by Subdivision (1); or\n(B) shares whose market value is at least $2 million.\n(b) A shareholder of a public benefit corporation may maintain a derivative action on behalf of the corporation to enforce compliance with the requirements of Section 21.956(a).\nAdded by Acts 2017, 85th Leg., R.S., Ch. 776 (H.B. 3488), Sec. 4, eff. September 1, 2017.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 2. CORPORATIONS","CHAPTER 21. FOR-PROFIT CORPORATIONS","SUBCHAPTER S. PUBLIC BENEFIT CORPORATIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm#21.958","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"e747230f3c9b26fb201551ac8c40c6ab7f8bb516eb5f242c59ab9224587ab8ba","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-21.957","next":"us-tx/tex.-business-organizations-code-21.959"},"notice":"GroundRules: Original legal text. Not legal advice."}