Texas § TN.431.032 - INDEMNIFICATION
Full text of Texas The Texas Constitution § TN.431.032 — INDEMNIFICATION, with citation guidance and answers to common questions.
§ TN.431.032. INDEMNIFICATION
INDEMNIFICATION. (a) A corporation may indemnify a director or officer of the corporation for necessary expenses and costs, including attorney's fees, incurred by the director or officer in connection with any claim asserted against the director or officer in a court action or otherwise for negligence or misconduct. (b) If a corporation does not fully indemnify a director or officer as provided by Subsection (a), the court in a proceeding in which any claim against the director or officer is asserted or any court with jurisdiction of an action instituted by the director or officer on a claim for indemnity may assess indemnity against the corporation, its receiver, or trustee for the amount paid by the director or officer, including attorney's fees, to pay any judgment or settlement of the claim necessarily incurred by the director or officer in connection with the claim in an amount the court considers reasonable and equitable only if the court finds that, in connection with the claim, the director or officer is not guilty of negligence or misconduct. (c) A court may not assess indemnity under Subsection (b) for an amount paid by the director or officer to the corporation. (d) In this section, "director or officer" includes a former director or officer. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Frequently Asked Questions About Texas § TN.431.032
What does The Texas Constitution § TN.431.032 cover?
Section TN.431.032 ("INDEMNIFICATION") 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 § TN.431.032?
A common citation format is "The Texas Constitution § TN.431.032" (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 § TN.431.032 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.