Tex. Transp. Code § 68.103 · Subchapter F. BRAZOS PILOTS ASSOCIATION
SHARE VALUATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The value of all assets of the association shall be determined by an appraisal made by one or more qualified appraisers designated by the association president. The value of each share is determined by dividing the total value of all assets of the association by the number of shares outstanding. The value of each share shall be used in a transaction that involves:
(1) the purchase of a share by a newly commissioned branch pilot;
(2) the sale of a share on retirement by a branch pilot; or
(3) the purchase of a share by the association from the legal heirs of a deceased branch pilot.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.68.htm
- Text hash
- sha256 c0bba07a1833463f38dbb68eb386d7870c6f24d8371925dce8a3cbd0413c7a96
- 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
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.