What happened: During the 89th Texas legislative session, lawmakers passed some of the most impactful and beneficial changes to Texas corporate law in history. 

Tell me more: 

• 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.”

Read the full article here.