Tex. Bus. Orgs. Code § 21.162 · Subchapter D. SHARES, OPTIONS, AND CONVERTIBLE SECURITIES
VALUE AND SUFFICIENCY OF CONSIDERATION.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
In the absence of fraud in the transaction, the judgment of the board of directors, the shareholders, or the party approving the plan of conversion or the plan of merger, as appropriate, is conclusive in determining the value and sufficiency of the consideration received for the shares.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm
- Text hash
- sha256 647a96e211718ee91d0e448acd3fc87a06a3c8a3f1a0913528e96410d7b1b426
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 2 provisions
Provisions in this library whose text cites Tex. Bus. Orgs. Code § 21.162. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.