Texas Businesses Are in Stronger Shape After 89th Legislative Session
The Dallas Morning NewsDuring the 89th Texas legislative session, lawmakers passed some of the most impactful and beneficial changes to Texas corporate law in history.
What happened: During the 89th Texas legislative session, lawmakers passed some of the most impactful and beneficial changes to Texas corporate law in history.
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- TLR-supported SB 29 codifies the business judgment rule, preventing wholly inappropriate derivative lawsuits aimed at imposing social or political outcomes on businesses.
- TLR-supported HB 40 further positions the Texas Business Court as the strongest competitor to Delaware’s Chancery Court, offering businesses greater legal clarity and corporate efficiency.
TLR Thoughts: SB 29 and HB 40 are critical, pro-business reforms adopted this session, helping to make Texas “the premier geographic location on the planet to create, grow, build, or maintain a business.”
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