First National Bank of Boston v. Silberstein

STEAKLEY, Justice.

This case involves the personal liability of officers and directors under Article 12.-14 1 for debts of a corporation after its right to do business has been forfeited by the State of Texas. Liability was adjudged against the Respondents by the trial court but this action was reversed by the Court of Civil Appeals. 391 S.W.2d 573. We hold, contrary to the views of the Court of Civil Appeals, that liability of Respondents was established.

The facts were stipulated. The corporation is known as Saul’s of Fort Worth, Inc., of which Respondents were officers and directors at all…