Relating to a presumption of good faith for directors and officers of certain domestic corporations.

SB 1056 creates a legal presumption that directors and officers of specific Texas corporations act in good faith, on an informed basis, and with the corporation's interests in mind. It applies only to Texas-formed corporations with publicly traded securities listed on a national exchange, headquartered in Texas or listed on a Texas-based exchange. The bill limits personal liability for directors/officers unless they intentionally committed misconduct, fraud, or knowingly violated the law, requiring specific allegations for such claims. This changes liability standards for qualifying corporations by shifting the burden to prove misconduct in lawsuits.