{"data":{"id":"us-tx/tex.-business-organizations-code-3.102","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 3.102","heading":"RIGHTS OF GOVERNING PERSONS IN CERTAIN CASES.","body":"(a) In discharging a duty or exercising a power, a governing person, including a governing person who is a member of a committee, may, in good faith and with ordinary care, rely on information, opinions, reports, or statements, including financial statements and other financial data, concerning a domestic entity or another person and prepared or presented by:\n(1) an officer or employee of the entity;\n(2) legal counsel;\n(3) a certified public accountant;\n(4) an investment banker;\n(5) a person who the governing person reasonably believes possesses professional expertise in the matter; or\n(6) a committee of the governing authority of which the governing person is not a member.\n(b) A governing person may not in good faith rely on the information described by Subsection (a) if the governing person has knowledge of a matter that makes the reliance unwarranted.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 1. GENERAL PROVISIONS","CHAPTER 3. FORMATION AND GOVERNANCE","SUBCHAPTER C. GOVERNING PERSONS AND OFFICERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.3.htm#3.102","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"04adb9abea1763f0392220ae82de3195e549b13b892c7fe5d3aa66cf1b03e021","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-3.101","next":"us-tx/tex.-business-organizations-code-3.103"},"notice":"GroundRules: Original legal text. Not legal advice."}