BRYAN, Texas (KBTX) – New rankings released by the U.S. News & World Report named Texas number two for best economy in the United States.
Earlier this week, Governor Greg Abbott signed a bill package to entice more businesses to relocate to the Lone Star State. Texas has taken steps to provide businesses with a good home for years.
“We started a Texas Stock Exchange, which will be in operation next year. February, according to them. We set up Texas business courts, which would deal with business disputes and only business disputes, and finally, we’re changing some of our laws to be more friendly to corporate businesses and disputes between shareholders and corporate boards of directors,” Professor Dennis Jansen from the Texas A&M Economics department said Friday on First News at Four.
The laws he mentioned are part of Gov. Abbott’s business bill package, Senate Bill 29. It provides a layer of protection for a board of directors of a company when it comes to legal issues.
“There’s going to be a presumption that directors are using good business judgment and making business decisions with other primary shareholders absent of any criminality or fraud,” added Jansen. “Those presumptions will make it harder for shareholders to challenge agreements made between board of directors and large shareholders.”
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