Bill
Bill > HB4794
summary
Introduced
03/10/2023
03/10/2023
In Committee
03/22/2023
03/22/2023
Crossed Over
Passed
Dead
05/29/2023
05/29/2023
Introduced Session
88th Legislature Regular Session
Bill Summary
Relating to the burden of proof in certain derivative proceedings.
AI Summary
This bill amends the Texas Business Organizations Code to state that in a derivative proceeding (a lawsuit brought by a shareholder on behalf of a corporation) alleging an act or omission related to the improper consideration of environmental, social, and governance (ESG) criteria, the burden of proof is on the corporation to prove the act or omission was in the best interest of the corporation. The bill applies only to actions commenced on or after the effective date of September 1, 2023.
Committee Categories
Justice
Sponsors (1)
Last Action
Referred to Judiciary & Civil Jurisprudence (on 03/22/2023)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Corporate Management
Law, Crime, and Family Issues
- ‐ Civil Law and Procedure
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88R&Bill=HB4794 | 03/10/2023 |
| BillText | https://capitol.texas.gov/tlodocs/88R/billtext/html/HB04794I.htm | 03/10/2023 |
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