Navigating Safe Harbors:  Review of the Protections Provided to Governing Persons by the Texas Interested Party Statute and the Business Judgment Rule

11.23.20

Under Texas law, when the owners of closely held companies have co-investors, they need to exercise care in managing their business. This need for caution is due in large part to a Texas statute that makes it easier for minority shareholders or minority members of LLC's ("Minority Owners") in closely held companies to file derivative...

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