Tex. Bus. Orgs. Code § 303.002 · Chapter 303. PROVISIONS RELATING TO PROFESSIONAL CORPORATIONS
AUTHORITY AND LIABILITY OF SHAREHOLDER.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.303.htm
- Text hash
- sha256 40cdebb0dca1db84d430954b9b0f63ee651798c3ea433a43ec9a8d0780576126
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.