Texas § IN.462.214 - CERTAIN SHAREHOLDERS' CLAIMS
Full text of Texas The Texas Constitution § IN.462.214 — CERTAIN SHAREHOLDERS' CLAIMS, with citation guidance and answers to common questions.
§ IN.462.214. CERTAIN SHAREHOLDERS' CLAIMS
CERTAIN SHAREHOLDERS' CLAIMS: LIMIT. Notwithstanding any other provision of this chapter, the association's liability for shareholder derivative actions or other claims for economic loss incurred by a claimant in the claimant's capacity as a shareholder under an insurance policy placed in force on or after January 1, 1992, is limited to $300,000 for each policy, including defense costs, regardless of the number of claimants under each policy. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007. SUBCHAPTER F. NONDUPLICATION OF RECOVERY
Frequently Asked Questions About Texas § IN.462.214
What does The Texas Constitution § IN.462.214 cover?
Section IN.462.214 ("CERTAIN SHAREHOLDERS' CLAIMS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.462.214?
A common citation format is "The Texas Constitution § IN.462.214" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.462.214 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.