Sec. 21.557. TOLLING OF STATUTE OF LIMITATIONS. A written demand filed with the corporation under Section 21.553 tolls the statute of limitations on the claim on which demand is made until the later of:
(1) the 31st day after the expiration of any waiting period under Section 21.553; or
(2) the 31st day after the expiration of any stay granted under Section 21.555, including all continuations of the stay.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 7, eff. September 1, 2019.
Structure Texas Statutes
Chapter 21 - For-Profit Corporations
Subchapter L. Derivative Proceedings
Section 21.552. Standing to Bring Proceeding
Section 21.554. Determination by Directors or Independent Persons
Section 21.555. Stay of Proceeding
Section 21.557. Tolling of Statute of Limitations
Section 21.558. Dismissal of Derivative Proceeding
Section 21.559. Allegations After Demand Rejected
Section 21.560. Discontinuance or Settlement
Section 21.561. Payment of Expenses