SB 1056 creates a presumption of good faith for directors and officers of certain Texas-based corporations listed on national securities exchanges. It establishes that, unless otherwise specified in a corporation's certificate of formation, directors and officers are presumed to act in good faith and with the interests of the corporation in mind. The bill limits their personal liability for damages unless they engage in intentional misconduct, fraud, or a knowing violation of the law. It also requires that claims of misconduct or fraud be stated with specificity when brought against corporate directors or officers​.