Sec. 21.559. ALLEGATIONS AFTER DEMAND REJECTED. If a derivative proceeding is instituted after a demand is rejected, the petition must allege with particularity facts that establish that the rejection was not made in accordance with the requirements and standards under Sections 21.554 and 21.558.
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. 9, 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