Sec. 3.102.  RIGHTS OF GOVERNING PERSONS IN CERTAIN CASES.  (a)  In discharging a duty or exercising a power, a governing person, including a governing person who is a member of a committee, may, in good faith and with ordinary care, rely on information, opinions, reports, or statements, including financial statements and other financial data, concerning a domestic entity or another person and prepared or presented by:
(1)  an officer or employee of the entity;
(2)  legal counsel;
(3)  a certified public accountant;
(4)  an investment banker;
(5)  a person who the governing person reasonably believes possesses professional expertise in the matter;  or
(6)  a committee of the governing authority of which the governing person is not a member.
(b)  A governing person may not in good faith rely on the information described by Subsection (a) if the governing person has knowledge of a matter that makes the reliance unwarranted.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.