§ 21.401 Management by board of directors
Sec. 21.401. MANAGEMENT BY BOARD OF DIRECTORS.
(a) Except as provided by Section 21.101 or Subchapter O, the board of directors of a corporation shall:
(1) exercise or authorize the exercise of the powers of the corporation; and
(2) direct the management of the business and affairs of the corporation.
(b) In discharging the duties of director under this code or otherwise and in considering the best interests of the corporation, a director may consider the long-term and short-term interests of the corporation and the shareholders of the corporation, including the possibility that those interests may be best served by the continued independence of the corporation.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.